by Tammy, this blog humanity journalist
There is a debate going on in Thailand about the economic stimulus “Exit” strategy.
Dr Krong, Thailand’s best economist, says the Thai economy has not recovered and the government should not exit its economics stimulus policies. The Thai prime minister says it is time to exit. Then others say it should be a mixed-strategy of semi-exit with spending kept going, but borrowing stopped.
But this is Thailand and it is not really about economic fundamentals. The government needs to keep politician happy and all together to keep the government together, and so you got US$ billions going to programs like to pave little used roads in a program called “No Dust Roads.” Off course this is Thailand, and so corruption is everywhere there is stimulus spending.
But a great deal had been borrowed and spent so far, and even with a mixed-exit strategy, a great deal more will be spent. Off course, government finances will deteriorate. And so now Thailand plans to get more tax from the Thais, raising it from about 15% of GDP to about 20% of GDP.
What that means off course is that tax payers will get to pay more tax so that the politicians can be happy staying together; and putting in much needed by nobody but themselves, programs likes “No Dust Road.”
But what about an exit strategy?
Exiting Political Dead-lock?
Politics is such a mess in Thailand between the upper-crust rule and those who want democracy-and coup ready to happen any time. Things have been bad now politically for years that you would think someone would actually make an effort to solve the problem-but sadly, there is no one.
Exiting Economic Dead-lock?
Economy wise, in 20 years, most of ASEAN will be way ahead of Thailand. Thailand, as an economy, is just like the duck-OK at a great many things, but not great at anything in particular. The only great thing about Thailand is that expatriate loves it, because modern amenities, cheap and vice all over the place. That reality, but then again, no one is looking to solve it.
Exiting Social Dead-lock?
Social wise, Thailand is also failing on all fronts. The education system is called only educating the rich. Its best doctors are at hospitals that services foreigners. Depression is widespread. Rich and poor gap, one of the highest globally. Law and justice system also have totally failed. With that reality, but then again, no one is looking to solve it.
Does anyone really care if Thailand “Exits” its economic stimulus policies?
Well, Terry, this blog former editor really cares. He is a Thai American mixed race, who now calls himself an American. He is thinking about an “Exit” strategy that will take him away from Thailand.
- “There are many things about Thailand that I love, but overall, my past 20 years in Thailand, have been a total waste of time. I should have listened to the American side of my family that warned me 20 years ago not come and live in Thailand,” said Terry.