Thaksin Vows to Fix Thai Economy Amid Claims of Mismanagement

[webfact]

Picture courtesy: Thai Rath

 

In a stirring address in Chiang Rai's Phan district, former Prime Minister Thaksin Shinawatra pledged on Wednesday to dedicate the next three years to restoring Thailand's economy. Thaksin, who remains a figure of considerable influence, albeit operating from behind the scenes, criticised the current state of economic affairs, attributing the decline to past mismanagement.

 

He highlighted a troubling economic imbalance: while people's incomes are dwindling, commercial banks are seeing profits soar by 14% against a modest 3% GDP growth. "The economy has collapsed nationwide," Thaksin stated emphatically, drawing attention to what he perceives as a systemic failure borne out of neglected fiscal responsibilities.

 

To put things into perspective, Thaksin compared the current economic woes to those during the 1997 Asian financial crisis. Back then, the turmoil largely affected the upper tiers of the financial system. Now, he argues, the impact is widespread, affecting ordinary citizens across the country.

 

His daughter, Prime Minister Paetongtarn Shinawatra, has her hands full managing state affairs. However, Thaksin reassured his audience that he is providing strategic support to bolster the government's efforts to rejuvenate the economy.

He cited his previous tenure as Prime Minister, during which Thailand enjoyed rapid economic growth and consecutive balanced budgets, contrasting it with the ongoing years of budget deficits and mounting debt.

 

Thaksin outlined potential strategies for economic revival. Central to this is the plan to increase agricultural exports to China, which has already agreed to purchase 300,000 tonnes of cassava. This move is expected to elevate market prices, thereby providing relief to local farmers.

 

He also touched upon the critical issue of crop prices, particularly for staples like rice and rubber. Thaksin confidently assured the public of his commitment to discovering viable methods to enhance these prices, thus offering a lifeline to farmers heavily reliant on these crops for their livelihood.

 

With the economy at a crossroads, Thaksin's intervention, framed as a return to prosperity, is poised to be a significant test of his enduring political influence. While some may doubt the feasibility of his ambitious plans, his promises to stabilise and flourish the economy may just galvanise the support he needs from the grassroots electorate.

 

The task ahead is monumental, but Thaksin's resolve to navigate Thailand out of its economic quagmire has rekindled hopes among many. As the situation unfolds, observers will keenly watch to see whether his bold proclamations translate into tangible results for a nation eager for financial recovery, reported Bangkok Post.

 

-- 2025-01-30

 

 

[ikke1959]

I agree with THaksin that the economy is suffering by mismanagement of the current and previous Governments. But He is not the person who must fix it it is the duty of the Pm and her Government. But we all know that she will be incapable to do so. That is she has her hands full in managing is the country is nice sentence, but explain than what she is doing for the country as till now nobody has seen or heard anything from her only from her father .... and she has no power than being beautiful and travel around

[SiamAndy]

Gee, I thought Emperor Thaksin Palpatine wasn't supposed to get involved in politics anymore? 🧐

[OneMoreFarang]

Where does the mismanagement come from?

Maybe too many corrupt and incompetent people in charge?

When the Thai justice system doesn't keep criminals in jail or doesn't even convict them, then nobody should be surprised about mismanagement.

Maybe some journalists should ask Thaksin who he is to be on stage and make demands?

[smedly]

yeah - fix it to his family circle

[JimHuaHin]

Does he mean "fix" the Thai economy to his advantage?

[phetphet]

Much better for him to pull the strings in the background and let his daughter take the credit, but he just cannot help himself.

[bkk6060]

Listen to him.  He is one of the greatest leaders the world has ever seen.

[MikeandDow]

2 hours ago, bkk6060 said:

Listen to him.  He is one of the greatest leaders the world has ever seen.

More like full of hot air!! the guy should be in prison !

[connda]

Why is Thaksin acting like the Prime Minister and why is it being allowed? 

[connda]

3 hours ago, JimHuaHin said:

Does he mean "fix" the Thai economy to his advantage?

Yes.

 

[BonnieandClyde]

13 minutes ago, connda said:

Why is Thaksin acting like the Prime Minister and why is it being allowed? 

TIT... That's the explanation in a nutshell.

[newbee2022]

I hope he can manage it and will not put all eggs into one (tourism) basket.

Promote solar energy

Looking for quality tourists

Keep the riffraff out

Save/clean environment

Law enforcement

The longer I think about the longer the to-do list will be. 

Start working

[phil2407]

Will someone get rid of this “on death’s door “ person 

or put him away in jail- he’s a parasite & fed up about him speaking on behalf of the puppet or muppets 

[johnnybangkok]

5 hours ago, OneMoreFarang said:

Where does the mismanagement come from?

Maybe too many corrupt and incompetent people in charge?

When the Thai justice system doesn't keep criminals in jail or doesn't even convict them, then nobody should be surprised about mismanagement.

Maybe some journalists should ask Thaksin who he is to be on stage and make demands?

It has little to do with corruption as corruption has always been endemic in Thailand and is also rampant in a lot of other SE Asian countries who are doing considerably better than Thailand. The truth is much more nuanced.

 

Covid obviously affected the world but in 2022 the world came out the other end and in many countries there was a boom in business (2022 was one of my best years ever) but then 2023 rolled along and with it came the Thai elections and the surprising showing of The Move Forward Party. Their victory of course didn't suit the powers that be (or even Pheu Thai) so deals were done behind closed doors and Move Forward was dissolved. Notwithstanding the completely undemocratic nature of all this, the country was without leadership for at least 6 -9 months in 2023 and matters dragged into 2024 with the ousting of Thavisin. This affected business substantially as who is going to invest in Thailand or expand their business here when there is so much political turmoil going on? Companies want stability and Thailand just hasn't offered that for quite some time so why risk your business when you could just as easily go to Vietnam or Malaysia? 

 

Thailands problems are self-inflicted but can also be rectified with a coherant and forward thinking (excuse the pun) policy that addresses the very real percetion out there that thailand is now 'The Sick Man of Asia"   https://world.thaipbs.or.th/detail/has-thailand-become-the-sick-man-of-asean-thailands-prolonged-political-crisis/228 

 

There are some positive signs though (casino's, large data centres etc) that could turn things around but Thaksin is correct, 'systemic failure borne out of neglected fiscal responsibilities' is the problem so until Thailands politicians stop looking after their own interests before the country's, problems will continue for many years to come.

[PomPolo]

Makes no difference anyways if any of the Thaksin clan do take the reigns then we'll just have another excuse for an annual coup and do it all over again would we expect anything different?

[MikeandDow]

8 minutes ago, johnnybangkok said:

It has little to do with corruption as corruption has always been endemic in Thailand and is also rampant in a lot of other SE Asian countries who are doing considerably better than Thailand. The truth is much more nuanced.

 

Covid obviously affected the world but in 2022 the world came out the other end and in many countries there was a boom in business (2022 was one of my best years ever) but then 2023 rolled along and with it came the Thai elections and the surprising showing of The Move Forward Party. Their victory of course didn't suit the powers that be (or even Pheu Thai) so deals were done behind closed doors and Move Forward was dissolved. Notwithstanding the completely undemocratic nature of all this, the country was without leadership for at least 6 -9 months in 2023 and matters dragged into 2024 with the ousting of Thavisin. This affected business substantially as who is going to invest in Thailand or expand their business here when there is so much political turmoil going on? Companies want stability and Thailand just hasn't offered that for quite some time so why risk your business when you could just as easily go to Vietnam or Malaysia? 

 

Thailands problems are self-inflicted but can also be rectified with a coherant and forward thinking (excuse the pun) policy that addresses the very real percetion out there that thailand is now 'The Sick Man of Asia"   https://world.thaipbs.or.th/detail/has-thailand-become-the-sick-man-of-asean-thailands-prolonged-political-crisis/228 

 

There are some positive signs though (casino's, large data centres etc) that could turn things around but Thaksin is correct, 'systemic failure borne out of neglected fiscal responsibilities' is the problem so until Thailands politicians stop looking after their own interests before the country's, problems will continue for many years to come.

Simple 2 words "never happen"

[MikeandDow]

2 minutes ago, PomPolo said:

Makes no difference anyways if any of the Thaksin clan do take the reigns then we'll just have another excuse for an annual coup and do it all over again would we expect anything different?

Are you blind !!!  who is the PM !! think she is one of the Thaskin clan ???  no coup on the horizion

[PomPolo]

3 minutes ago, MikeandDow said:

no coup on the horizion

Have heard those words before, you must be blind if you aren't aware of the 2017 constitution, doesn't matter who the prime-minister is and doesn't matter who people vote for, at any point with the 250 junta non-elected senators they decide what they want without firing a shot, if the 250 change=coup

[thesetat]

7 hours ago, webfact said:

former Prime Minister Thaksin Shinawatra pledged on Wednesday to dedicate the next three years to restoring Thailand's economy.

How can this man make any claims? He is not in the government anymore and is not suppposed to meddle in government affairs. He should be sent back to jail for this and other things he lays claim to that he will accomplish in the name of the Thai government.

[hotchilli]

7 hours ago, webfact said:

In a stirring address in Chiang Rai's Phan district, former Prime Minister Thaksin Shinawatra pledged on Wednesday to dedicate the next three years to restoring Thailand's economy. Thaksin, who remains a figure of considerable influence, albeit operating from behind the scenes, criticised the current state of economic affairs, attributing the decline to past mismanagement.

Looks very public to me ?

[hotchilli]

4 hours ago, JimHuaHin said:

Does he mean "fix" the Thai economy to his advantage?

Yeah, that's why he and his family share billions and after time under his care the poor are still poor.

[kingstonkid]

7 hours ago, ikke1959 said:

I agree with THaksin that the economy is suffering by mismanagement of the current and previous Governments. But He is not the person who must fix it it is the duty of the Pm and her Government. But we all know that she will be incapable to do so. That is she has her hands full in managing is the country is nice sentence, but explain than what she is doing for the country as till now nobody has seen or heard anything from her only from her father .... and she has no power than being beautiful and travel around

 

The more he talks the more people are seeing how ineffective his daughter is.  He sad thing is that even if she survives to go to the next election she is not going ot be PM.

 

It also means that she is going to be treated worse than if she was Biden because she has no power or brain.

 

Can you imagine a conversation with any of the other AEAN leaders.

 

Laos:  we wouldike to make a deal on rice can.

 

PM one minute I need to get my line app and get Dad on the line, sorry.

[scorecard]

8 hours ago, OneMoreFarang said:

Where does the mismanagement come from?

Maybe too many corrupt and incompetent people in charge?

When the Thai justice system doesn't keep criminals in jail or doesn't even convict them, then nobody should be surprised about mismanagement.

Maybe some journalists should ask Thaksin who he is to be on stage and make demands?

 

And unfortunately the powerful unethical people / ministers etc., have the means to push aside the unethical folks and insert a gang of imorral yes men. 

[PETERTHEEATER]

3 hours ago, PomPolo said:

Makes no difference anyways if any of the Thaksin clan do take the reigns then we'll just have another excuse for an annual coup and do it all over again would we expect anything different?

....take the reigns....

A Freudian slip but very apt👍.

[hotandsticky]

Sounds the same as when Saville said "Jim'll Fix It"....

 

 

Be wary ...

[OneMoreFarang]

1 hour ago, scorecard said:

And unfortunately the powerful unethical people / ministers etc., have the means to push aside the unethical folks and insert a gang of imorral yes men. 

Similar to that big country of the free in the west... 

[connda]

4 hours ago, MikeandDow said:

 no coup on the horizion

I'm not so sure about that.  At least according to my Thai wife.

[lordgrinz]

9 hours ago, phetphet said:

Much better for him to pull the strings in the background and let his daughter take the credit, but he just cannot help himself.

 

He's a textbook narcissist, it's all about him.

[TheFishman1]

Wow for a guy on parole and not supposed to get involved in politics TIT