Thread: 'Democracy is Best for Our Economy'

The Nation
May 25, 2015

The future of Thailand's economy lies in stable democracy, which helps promote sustainable and fair economic development, businessmen and academics said yesterday. "Democracy allows freedom of thought, which is necessary for the development of innovations," they said.

At a seminar entitled "Thai economy, hope and future" at Thammasat University, a group of businessmen and academics voiced concern over the dismal economic outlook.

Wiroj Alee, a Thammasat lecturer, said the current situation had prolonged the poor economy. Foreign diplomats and investors were not confident due to the military coup last year and current economic structural problems. The latest human trafficking issue had compounded the economic problems, he said.

The country depended heavily on exports and foreign organisations were more compromising with elected governments when it comes to human trafficking. He said foreign investment had shrunk since 2010.

The main contributing factor to the decline in exports was that Thai companies had relocated their bases to foreign countries because of poor domestic growth and lower consumption.

The economic slowdown was caused by poor income distribution and political problems, he said. The country also faced heavy competition from Vietnam, Cambodia and Indonesia, whose economies were growing fast. As the Asean Economic Community looms, foreign companies had more investment choices, Wiroj said.

He said the Prayut government lacked policies to support economic expansion or clear policies to boost the agricultural sector. "What it did was to pay farmers for their pledged rice and provide production factors. However, it has not tackled the structural issues."

The country's industrial sector had not been able to improve production efficiency either. The government blamed the previous government, despite the fact a democratic system gives opportunities for people to access natural resources, he said. "The government is just busy trying to do PR for what it has achieved, like regulating vans when the country's tourism has fallen to number three in Asean,'' he said.

He cited the success of Malaysia's "Malaysia Second Home" policy, which allows foreigners to own property and land for 99 years, which has helped to boost its economy because of income from foreigners.

Pichit Likhitkijsomboon, another Thammasat lecturer, said the economy was trapped by political instability. Thailand lacks basic infrastructure investment, causing it to lose comparative advantages as foreign investors relocate to places like Vietnam.

The country's GDP may not reach 3 per cent this year because growth relies on exports, which is unlikely to pick up in the second half of this year because trading partners want to buy the same quality products at cheaper prices.

Pichit said the coup brought peace but it failed to stem structural woes. Thailand's household debts rank near the top of the world list. The country must solve the problem of income distribution, he said. "The problem is not creating debt. Everyone wants a better quality of life," he said.

"Democracy boosts the economy better than an authoritative ruling system. None of the developed countries are run by dictatorships. Freedom of thought and expression help add value to products. People in democratic countries enjoy income equality and equal opportunities. Unobstructed communications reduce conflicts and provide a good base for the economy, as proven by the European and Scandinavian countries."

Thanathorn Jungrungruangkij, president of the Nakhon Nayok Provincial Industrial Council, said Thailand's economic crisis began in 2006 and it was now chronic. "We have prime ministers who stay in power one year and five months on average. If we cannot establish sustainable democracy, the country's economy will continue to perform poorly.

The nation needs to have a clear decentralisation system, he said. "Local administrations must be able to depend on income from locals without depending on central government. They must be allowed to manage tax and justice procedures," he said. Decentralisation would help locals stay in their hometowns without having to seek jobs in Bangkok, he said.

"Competing in the age of globalisation, people must be creative but the 12 values may not go well with capitalism," Thanakorn said.

'Democracy is best for our economy' - The Nation

Moot and rhetorical.
A truer democratic form has never existed here.
Contradicts the base path of the ruling oligarchy establishment.

....don't expect any change soon.

Will the PM get angry when questioned by the media on this,or will he respond by telling them,when your all Happy a true democratic system will be put in place that the world will follow.

Originally Posted by sumocakewalk

'Democracy is Best for Our Economy'.

Good read, surprising that it was published in The Nation...

Originally Posted by thaimeme

Moot and rhetorical.
A truer democratic form has never existed here.
Contradicts the base path of the ruling oligarchy establishment.
....don't expect any change soon.

You may be too pessimistic.

Originally Posted by Horatio Hornblower

Will the PM get angry when questioned by the media on this,or will he respond by telling them,when your all Happy a true democratic system will be put in place that the world will follow.

AFAIK none of the participants have been invited to "attitude re-adjustment" yet...

Wind of Change...?

Originally Posted by Sumocakewalk

The Nation
May 25, 2015

The future of Thailand's economy lies in stable democracy, which helps promote sustainable and fair economic development, businessmen and academics said yesterday. "Democracy allows freedom of thought, which is necessary for the development of innovations," they said.

At a seminar entitled "Thai economy, hope and future" at Thammasat University, a group of businessmen and academics voiced concern over the dismal economic outlook.

Wiroj Alee, a Thammasat lecturer, said the current situation had prolonged the poor economy. Foreign diplomats and investors were not confident due to the military coup last year and current economic structural problems. The latest human trafficking issue had compounded the economic problems, he said.

The country depended heavily on exports and foreign organisations were more compromising with elected governments when it comes to human trafficking. He said foreign investment had shrunk since 2010.

The main contributing factor to the decline in exports was that Thai companies had relocated their bases to foreign countries because of poor domestic growth and lower consumption.

The economic slowdown was caused by poor income distribution and political problems, he said. The country also faced heavy competition from Vietnam, Cambodia and Indonesia, whose economies were growing fast. As the Asean Economic Community looms, foreign companies had more investment choices, Wiroj said.

He said the Prayut government lacked policies to support economic expansion or clear policies to boost the agricultural sector. "What it did was to pay farmers for their pledged rice and provide production factors. However, it has not tackled the structural issues."

The country's industrial sector had not been able to improve production efficiency either. The government blamed the previous government, despite the fact a democratic system gives opportunities for people to access natural resources, he said. "The government is just busy trying to do PR for what it has achieved, like regulating vans when the country's tourism has fallen to number three in Asean,'' he said.

He cited the success of Malaysia's "Malaysia Second Home" policy, which allows foreigners to own property and land for 99 years, which has helped to boost its economy because of income from foreigners.

Pichit Likhitkijsomboon, another Thammasat lecturer, said the economy was trapped by political instability. Thailand lacks basic infrastructure investment, causing it to lose comparative advantages as foreign investors relocate to places like Vietnam.

The country's GDP may not reach 3 per cent this year because growth relies on exports, which is unlikely to pick up in the second half of this year because trading partners want to buy the same quality products at cheaper prices.

Pichit said the coup brought peace but it failed to stem structural woes. Thailand's household debts rank near the top of the world list. The country must solve the problem of income distribution, he said. "The problem is not creating debt. Everyone wants a better quality of life," he said.

"Democracy boosts the economy better than an authoritative ruling system. None of the developed countries are run by dictatorships. Freedom of thought and expression help add value to products. People in democratic countries enjoy income equality and equal opportunities. Unobstructed communications reduce conflicts and provide a good base for the economy, as proven by the European and Scandinavian countries."

Thanathorn Jungrungruangkij, president of the Nakhon Nayok Provincial Industrial Council, said Thailand's economic crisis began in 2006 and it was now chronic. "We have prime ministers who stay in power one year and five months on average. If we cannot establish sustainable democracy, the country's economy will continue to perform poorly.

The nation needs to have a clear decentralisation system, he said. "Local administrations must be able to depend on income from locals without depending on central government. They must be allowed to manage tax and justice procedures," he said. Decentralisation would help locals stay in their hometowns without having to seek jobs in Bangkok, he said.

"Competing in the age of globalisation, people must be creative but the 12 values may not go well with capitalism," Thanakorn said.

'Democracy is best for our economy' - The Nation

why the fcuk would you feel the need to repost the entire first post again on the first page ?