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The Analyst Magazine:
Politics and Economy : Thailand after Thaksin
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Thaksin Shinawatras decision to step down as the Thai Prime Minister has created a constitutional deadlock in the country. While the authorities are busy trying to come out of the cloudy political climate, which is unlikely to clear any time soon, the countrys economy begs for attention.

 
 
 

This old adage fits just right for the opponents of Thai Prime Minis-ter, Thaksin Shinawatra, who got much of what they wished for when he stepped aside from his position after an embarrassing and undecided victory in the snap elections, held on April 2, 2006. But, having boycotted the snap elections that ultimately forced Thaksin to step down, they have triggered a constitutional mess that threatens the very democracy they claim to be fighting to preserve. By deciding to quit (for the good of the nation, as he claims), Thaksin has created a power vacuum in the country. Ironically, the man who leads the party with the largest majority (Thai Rak Thai), put the responsibility on his opponents (mainly the Democrats, Peoples Alliance for Democracy) to sort out the political limbo. And it is important that the opposition sorted it out soon, else the country's democracy could be in jeopardy. It can even hamper the country's economic growth. The Bangkok's bourse jumped to 3%, its highest in two years, on the first day after Thaksin's resignation came on hopes that a peaceful solution to months of political unrest would be achieved soon. However, the initial euphoria did not last long.

A former policeman, Thaksin has been a bold leader ever since he came to office five years ago. Before joining politics, he was a successful telecommunications entrepreneur and was counted among Asia's richest people. During his election campaigns, he promised to better the life of an average Thai and pledged ample funds and debt relief to the rural masses. Thus, winning enormous support from these communities, Thaksin's party, Thai Rak Thai (meaning Thai love Thai), came to power and he became the Prime Minister. After coming to office, he delivered all that he promised. His agenda dubbed as "Thaksinomics" included investing heavily in infrastructure programs, defending big businesses from bankruptcy and providing cheap national healthcare.

 
 
 

The Analyst Magazine, Thaksin Shinawatras, Telecommunications Entrepreneur, Infrastructure Programs, Economic Growth, Business Tycoons, Governmental Decisions, Election Commission Plans, Foreign Investors, Foreign Direct Investments, FDIs, Business Communities.