The reason Thailand is struggling is not because of its laws, it's the lack of trust that they will still be the same in 10 years time and the threat of a 180 within months due to the swirling chaos of Thai politics. What Thailand lacks is good business sentiment and confidence, which is fragile to say the least these days. You can have tight regulations, like many countries do on business and land ownership (Singapore etc.), but that doesn't hurt them as businesses and people can work with that... it's the unpredictability of Thailand's flip-flopping that makes investors, large and small, hesitate or go elsewhere to more predictable countries. The "hang them high" expats who whine and complain on forums and shout loudly about one side of the debate or the other are not that relevent really... it's the investor who stays silent, reads the room, and pulls the money to go somewhere else as it is not a sound business decision. Thailand has to be more predictable and reliable to get the investment it needs to escape the middle-income trap it is in, and that only comes through investors knowing the laws will stay the same for a long while, so plans can be made and you can factor in all those costs of doing business or buying stuff.... sadly now you can't and that's too risky for most businesses. Classic example is the Cannabis espisode, changed the law, people invested billions, and then a sudden 180 due to changing political whims... that is what Thailand has to fix to get trust back. Choose a set of laws and stick with them with only minor tweeks every decade or so... instead of this constant mess and chaos we see now.
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