Should PM Abhisit Beware Of 'Korn-Don Brown'?

[webfact]

ANALYSIS

Should PM Abhisit beware of 'Korn-don Brown'?

By The Nation

With widespread rumours that Finance Minister Korn may succeed the premier, it is reminiscent of the time when UK Chancellor of the Exchequer Gordon Brown was set to take over from then British PM Tony Blair

Will the rivalry between Tony Blair and Gordon Brown in the UK find a parallel in Abhisit Vejjajiva versus Korn Chatikavanij in Thailand?

It is hard to fathom the intricate depths of Thai politics but recent intense rumours have circulated that Korn, the Finance Minister, might stand up to succeed Abhisit if the Prime Minister were to step down for one reason or another. If this were the case, it would recall the rivalry between Tony Blair, the former UK prime minister, and Gordon Brown, the chancellor of the exchequer. Brown eventually succeeded in overthrowing Blair for the premiership. But his premiership could not match Blair's legacy.

Last week Kom Chad Luek, the mass local daily, reported that Suthep Thaugsuban, the deputy prime minister and secretary-general of the ruling Democrat Party, had called Newin Chidchob, the de facto leader of the coalition Bhum Jai Thai Party, to consult him over Abhisit's possible successor. They would like to back Korn over Chuan Leekpai, the "old wine", as the new prime minister in the event Abhisit is forced out of office if the Democrat Party were dissolved.

Abhisit and Korn were friends at Oxford University. While Abhisit entered politics almost immediately after completing his studies, Korn spent a career in investment banking and stock brokering before moving to the political arena. Their stars have now crossed again at the pinnacle of Thai political power.

Immediately, Suthep came out to deny the news report as groundless, saying it had never entered his mind that the Democrats would change the premiership. Abhisit and Korn were of "different sizes", he said.

Suthep's relationship with the Democrat Party in general has been deteriorating. One political source indicated that Suthep's party might remove him. "Since Suthep has resigned his MP status but retained his deputy premiership, he would become a full citizen if the Democrat Party were to take him on directly," the source said.

Korn's role, at least publicly, has been very prominent - even more outstanding than that of the prime minister - as he is quick to take on the big issues that attract the attention of the wider public. These big issues might have little to do with the tedious assignments at the Finance Ministry, which deals with fiscal policy, the budget, tax issues and other arcane matters.

Korn has utilised social media effectively to air his message.

For instance, he wrote on his Facebook page that on Friday he met with top executives of Krung Thai Bank to discuss the commercial banks' transfer fees. He is now taking on the commercial banks, which have been raking in huge profits charging consumers with service fees. The banks will today inform the Bank of Thailand how they would reduce transfer fees, particularly for inter-provincial money transactions, which altogether earn the banks Bt10 billion a year.

It was Korn who raised questions on the wide interest rate spread enjoyed by the banks, before moving on to transfer fees.

Korn was also heavily involved in the public debate on the 3G auction, which has been stalled by a court order. Korn's position is that the National Telecommunications Commission must be thoroughly clear on its legal mandate first before it could proceed with bidding for the 3G licences. He would like the 3G bidding to go ahead, but if the NTC's legal mandate were questionable, it would become a bigger problem later on. What the government can do next is to promote 3G through the existing spectrums of the mobilephone operators.

Totally unexpected was Korn's comment on a Thai soap opera, Wanida. In this soap opera, there is a story line concerning sleazy debt-collecting. Korn rose to the occasion by writing in Facebook that the debt collection style in Wanida violates the law on debt collection passed by the Cabinet the previous week. He analysed in great detail the flaws in the debt-collection method depicted in the soap opera to enlighten the public.

Korn is proud to have handpicked two persons, Prasarn Trairatvorakul and Areephong Phucha-um, to head the Bank of Thailand and to serve as permanent secretary to the Finance Ministry.

He considers himself a youthful finance minister, and he would like to get across the message that he is filling up the top posts of this country with youthful candidates.

-- The Nation 2010-09-27

[geriatrickid]

Finally, someone woke up. Korn learnt all the slick tricks of the investment bankers, the same people that brought us the global mess in finance. Mr. Korn is pushing "youthful" candidates. Right. When it comes to managing the finances of the nation, older experienced hands are almost always better as they have been through a few crises and can work from the mistakes and successes of those crises. There is a place for youth, but not when it comes to making financial decisions that must take into account multiple stakeholders. Investment bankers are trained to think in terms of making the biggest biggest profit in the shortest period of time. Business people think in terms of legacy, of building a successful business, of serving clients and bringing a product or service to the market that satisfies a need. Big big difference in mentalities. IMO, what we see in Thailand today is the result of short term thinking and not long term planning or nation building.

IMO, Mr. Korn has not made any impact upon the ministry of finance. He has no vision save for his own personal advancement.

Edited September 27, 2010 by geriatrickid

[SamritT]

IMHO Korn is the best choice once Mark is banned for 5 years.

[RubbaJohnny]

Having just returned from Oxford I am reminded how little these Oxford alumni seemed to have gleaned of justice fair play and democracy.

at the University Oxford Union there are wide ranging debates and then an open vote.

The votes are tallied and a winner determined no loss of face.

Not the tyranny of bribes inducements or nepotism

Similarly the people had a say in choosing party leaders.

Of course such methods are not used in primary school or playschool where people are judged too immature to exercise the franchise

the University vade mecum

Domiunus illuminatio mea

Edited September 27, 2010 by RubbaJohnny

[hammered]

Korn is also (just about the only) one pushing for taxes on the rich on unused land and inheritance. In a parliament stacked full of yes men, tradiitonalists and guns for hire, Korn is about the most different. It would be interesting to see him as PM and certainly more interesting than any of the other possibuilites across the spectrum who are all without exception old wine.

However, it may be that the establishment prefer one of the old style, and it may be that Newin and Suthep are manouvering to try and outmanouver the establishment. The cracks between parts of government and the establishment are widening as disagreements on what is the way forward become more common. This is the contest for analysing any politcal move or statement.

[freedom4life]

The least of his worries. He should be aware of his life, while walking around in public.

[SamritT]

Khun Korn, just like Mr. Goh Chok Tong of Singapore, will just be used as a place holder for the real powerful guy to come back (5 years ban). Mr. Goh was a place holder for Mr. Lee's son until he (Mr. Lee's son) is a little more mature. Both Mr. Goh and Khun Korn tower above all their peers.

[souvenirdeparis]

" condom brown ? don't use it sonny ! it's worn out !

-Granny ! go back to bed at once !

[mrtoad]

Khun Korn, just like Mr. Goh Chok Tong of Singapore, will just be used as a place holder for the real powerful guy to come back (5 years ban). Mr. Goh was a place holder for Mr. Lee's son until he (Mr. Lee's son) is a little more mature. Both Mr. Goh and Khun Korn tower above all their peers.

You have really lost me on this one. Please explain who the "real powerful guy" is? As for Goh Chok Tong towering above there peers, I can only assume you mean this in actual height?

[asiawatcher]

I would let the game play out. The bagmen will be out at the gate waiting to take on the punters pending the ruling on dissolution and banning. I have already said my piece on that in another blog. The truth is always revealed in the fullness of time....