Decision to step down was for 'good of country'
Somkid Jatusripitak said his decision to step down was to end mounting pressure to his appointment, but it would not bar him from returning to politics in the next general election.
Choice quotes:
"I don't think conflict should be escalated, so I will step back for the time being in order to end it," Somkid, a former deputy prime minister and finance minister in the Thaksin administration, told a press conference at the Intercontinental Hotel.
"Somkid said yesterday he held opposing views to the former prime minister but could not resign from the Thaksin government because he did not want to leave the country's economy in a crisis.
He appreciated Prime Minister Surayud giving him a chance to serve the country as the sufficiency theory envoy and said his appointment to the post proved Surayud wanted reconciliation.
Somkid said he had volunteered to work for the country and explain the sufficiency theory after foreign media had attacked it and caused misunderstanding abroad.
He could still serve the country without a position. "Politics is uncertain and in the next seven to eight months there will be a general election," he said. "People who support me and agree with my stance should come and join me in order to solve the problems in the country."
Somkid said he strongly believed that His Majesty the King's philosophy of sufficiency economy is Thailand's future, claiming it does not go against modern economic theory because it could be adapted everywhere in the world.
He insisted his stance was independent, both when he worked with Thaksin and now - which was why Thaksin removed him during the later years of the administration.
"I did not leave the Thaksin government earlier because I had talked with a poo yai [influential figure] who advised me to stay where I could help the country," said Somkid, adding during the first few years of the Thaksin administration, the country was in an economic mess when nine out of 10 companies were broke and many people had lost their jobs.
somkid: a sign of divisions within the military?
The appointment of the ex-Thai Rak Thai finance whiz stirred controversy; his resignation adds to the govt's credibility crisis
"With the capital controls, the revised Foreign Business Act and the appointment of Somkid, the credibility of this government is finished," said one Western-based diplomat, who is a keen observer of Thai politics."
He said Somkid was the architect of "Thaksinomics", so it seemed unthinkable to recruit him to promote the sufficiency economic theory. The Somkid appointment could have seriously undermined the Surayud government.
By allowing Somkid to step down from his position as special envoy on sufficiency economic theory, the government is trying, once again, to salvage its sagging position in the public eye. So far, it has backtracked on capital controls on capital brought into the country, lotteries, liquor ads, and a plan to re-open Don Muang Airport for international flights.
It has also had a difficult time explaining revisions to the foreign business law to foreign investors. The Somkid saga is the latest flip-flop by a government that appears to be struggling to get its act together and achieve a range of significant goals within a tight time-frame.
Somkid, who served as finance minister, deputy prime minister, and commerce minister in the six-year reign of Thaksin, has never renounced the populist policies of "Thaksinomics". Yesterday, however, he sought to defend himself by saying that his economic thinking or policies were not in tandem with those of the former prime minister, with whom he had run into conflict. He had lost favour with Thaksin. Yet it was not clear which policies he really differed on from his former political master and to what extent he sought to carve out his own role in the Thaksin government.
"Earlier, the ill-fated arrival of Somkid had been interpreted in different ways:
First, he was brought in so that he could have a launch pad to prepare himself to become the next prime minister after the general election. Somsak Thepsuthin's Matchima Party would like to have Somkid as its head. And some of the generals would like to support Matchima to ensure their survival after Thailand reverts back to democracy after the next election.
Second, he was seen as a "Trojan Horse" for political enemies of the Surayud government. It was feared that, with Somkid slipped into the administration, he could quickly destroy its credibility and accelerate its collapse.
Third, Somkid would like to be his own man, and cast off the burden of his association with the Thaksin regime.
Fourth, Somkid was brought in to counter the propaganda war mounted by Thaksin from overseas that the sufficiency economic theory was the cause of the current fatigue and mismanagement of Thailand. Since Somkid was a former Thai Rak Thai insider, he would be the best person to discredit "Thaksinomics".
Fifth, Somkid's arrival reflected a deep division within the military leadership. Somkid got support from Gen Saprang Kalyanamitr, a key member of the coup, and Sonthi Limthongkul of the Manager Media Group. But his appointment served as a snub to MR Pridiyathorn Devakula, the deputy prime minister and finance minister, who has support from Gen Winai Phathiyakul, the secretary-general of the Council of National Security. Somkid and Pridiyathorn are known to be sworn enemies.
From now on, after a series of mistakes, Surayud can hardly afford to make more errors. There are rumours of a Cabinet reshuffle to counter the dwindling popularity. The Old Ginger Cabinet is looking old indeed."
BUSINESS REACTION
U-turn on Somkid adds to confusion
"Somkid Jatusripitak's resignation could further confuse foreign investors and jeopardise the Surayud government's image following its easy defeat by some political groups, according to businessmen.
Dej Pathanasethpong, president of the Thai Garment Manufacturers' Association, said the issue would increase confusion among foreign investors who do not understand Thailand's internal political pressure and the sufficiency-economy policy."
"According to a source in the securities industry, foreign investors are disappointed with Somkid's resignation.
He said the government's image was sinking. Foreigners were happy with Somkid's appointment because they knew Somkid and knew his policies. They thought he could mend the differences between the two administrations. However, his resignation would make it harder to revive that good feeling.
"It's a pity," he said. "The country is clearly divided. Somkid resigned because of opposition from certain parties. This is clearly bad for the country's image."
I would like to know who this foreign expert is, because the guy is an idiot.
"An executive from Sea Horse agreed, saying that foreign investors operating in the Kingdom should know that this is a normal incident in Thailand. Though this could reduce confidence among those who are thinking about coming to Thailand, once the election is hosted, things should be fine, he said.
Federation of Thai Industries president Santi Vilassakdanont said the incident should not damage the country's overall economic growth, but would absolutely affect the confidence of foreign investors.
A sufficiency-economy envoy is necessary for the Kingdom to boost foreign investors' confidence, he said, adding that the Cabinet should conduct a road show overseas to promote better understanding about its economic policy among foreign investors.
"Some businessmen are upset with Khun Somkid's decision as he is a smart economist," Santi said yesterday. "He should have been offered three months to prove himself and then he could have been evaluated as to whether he was fit to continue working in that capacity."
A banker who asked not to be named brushed aside any disappointments. He said Somkid should not have been appointed in the first place as anybody could be in charge of explaining the theory of a sufficiency economy.
"Indeed, his appointment confused foreign investors because he was part of the previous government. This will not affect the government's credibility, but certainly it is Surayud who stands to lose face," the banker added.
THAI TALK
Surayud, Somkid: same bed, different dreams
Somkid Jatusripitak might have beaten a quick retreat from his offer to be Premier Surayud Chulanont's "spokesman to the outside world" when he announced his decision to withdraw from the post yesterday. But the brief Surayud-Somkid "incident" did underscore the fact that things will never be quite the same on the political landscape.
It isn't clear when Premier Surayud told himself that he had had enough of people calling him a "political novice" - and, worse, a "wimp" - behind his back. Four months into his "reluctant premiership", he seems to have decided to take on rough-and-tumble politics with a vengeance.
Surayud took everybody - perhaps even himself - by surprise when he named Somkid Jatusripitak, the former number-two man under Thaksin Shinawatra, to head a task force dealing with "foreign economic relationships" - a euphemism for a worldwide campaign to debunk "Thaksinomics" in favour of the "sufficiency theory".
Somkid didn't have a chance to even make a public gesture of repentance to disown Thaksin. When he finally delivered his public statement yesterday, it wasn't an apology. It wasn't a confession. He did try to dissociate himself from Thaksin but even as he tried to impress upon the public that he was breaking away from his former boss, Somkid failed miserably to live up to expectations of a good segment of Thai society: he refused to give Thaksinomics a public burial.
The "revelation" was too little too late. The statement clearly lacked courage and commitment. For those who know Somkid well, that came as no surprise at all.
I don't get why Somkid was chosen to explain sufficiency theory to the dumb farang. I mean, even for Thais, that is just stupid.
Like I said before, that is like a future President Hillary Clinton sending Dick Cheney out to explain her Iraq policy.
I think the intention was to have Somkid be the eventual puppet for the military junta in the future.
Right now, he would have had two jobs if the whole thing didn't blow up.
1. Reframe Thaksinomics into Juntanomics and call it Sufficiency Theory.
2. Keep up contacts on the outside and lobby for acceptance from the foreign community as the future premiere, especially from his homeland China. Many people don't know this, at least foreigners don't, but Somkid speaks Thai with a Chinese accent and sometimes has trouble speaking Thai.
3. My personal feeling about Somkid is that I think he had an opportunity to get a coalition together in Thai Rak Thai and take Thaksin out and advert a coup, but he was too much a coward. Now that he has stabbed Thaksin in the back while he lives in exile, that just makes him a bigger coward in my book. I don't know how he is supposed to have any credibility to carry the water for sufficiency theory. If sufficiency theory is sacred, why would they have a total phony with no integrity be its spokesman?
1 comment:
The writer of the Nation article (Somkid: a sign of divisions within the military?) was on crack. Sondhi Limthongkul might have been old friends with Somkid, but it's absurd to think that Sondhi was actually pushing for Somkid to be the junta's head sufficiency preacher. After all, it was the PAD that led the whole campaign to kick Somkid out.
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