Thai junta's populism not sustainable
SINCE the May 22 coup that displaced former Thai prime minister Yingluck Shinawatra and her government, the country's military has been busy adopting some of the populist measures pioneered by Ms Yingluck's elder brother and fugitive former premier Thaksin Shinawatra.
The junta's leader, General Prayuth Chan-ocha, has made it a point to revive South-east Asia's second-largest economy, which has taken a beating following months of anti-government street protests that have spooked tourists and hurt investor confidence.
In the last month alone, the army restarted payments to thousands of farmers - many of whom are loyal supporters of the Shinawatras - who were owed about 92.4 billion baht (S$3.56 billion) under a controversial government rice purchase scheme that has since collapsed.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
The trillion-dollar AI arms race
Next-gen AI PCs will redefine work in the age of intelligence
Please stop making tipping more awkward
The future of robots is coming on two legs
The long, slow decline in fund manager fees may be ending
Investors should not tear up their playbooks over geopolitical risks