Buddhist Economics
Thailand is now charting a 'middle path' set out by its beloved king. But will new measures bolster the shaky junta, or simply kill the economy?
Jan. 22, 2007 issue - Thailand's finance minister, Pridiyathorn Devakula, said the new rules were meant merely to "close loopholes." But that's not how foreign business leaders saw it last week, when he briefed them in Bangkok on plans to revise the country's investment restrictions. They viewed the move as starkly protectionist, according to one participant. In the tense discussion that followed, the visitors peppered the minister with pointed questions, warning that the measures could be challenged at the World Trade Organization. "There's a fundamental philosophical gap," said the source. "It became obvious we were getting nowhere."
Thailand is now charting a 'middle path' set out by its beloved king. But will new measures bolster the shaky junta, or simply kill the economy?
Jan. 22, 2007 issue - Thailand's finance minister, Pridiyathorn Devakula, said the new rules were meant merely to "close loopholes." But that's not how foreign business leaders saw it last week, when he briefed them in Bangkok on plans to revise the country's investment restrictions. They viewed the move as starkly protectionist, according to one participant. In the tense discussion that followed, the visitors peppered the minister with pointed questions, warning that the measures could be challenged at the World Trade Organization. "There's a fundamental philosophical gap," said the source. "It became obvious we were getting nowhere."
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