This journal entry is long overdue. I've always held strong opinions about the progess that Thailand has made in the last few years which are favourable opinions. I obviously being in Europe means that you don't get so much Asian news because I just recently found out about the ongoings in Thailand a couple of days ago. Now... my comments.
Wikipedia summarises the situation at hand well.
"On Monday, January 23, 2006, three days after new Thai Telecommunication Act (2006) passed on Friday January 20, his family sold all stake in Shin Corporation, a leading communication company in Thailand, to Temasek Holdings with tax liability exemption. The Shinawatra and Damapong (Potjaman's maiden name) families netted about 73 billion baht (about US$1.88 billion) tax-free from the buyout..."
Firstly, I'm pleasantly surprised at the move by Temasek Holdings, which is a GLC in Singapore. Primarily because its an indicator of the level of trust and confidence and cooperation between govts in Asia. We do not harbour the same distrust which some other countries may have about foriegn firm ownership. Take the US shipping thing for example, when a company from the middle east wants to buy a US shipping firm the xenophobes begin to cry foul. All the talk of free trade when its in their interests, but xenophobia otherwise. I think we should be proud of the level of cooperation between Thailand and Singapore. Unlike the immeasurable phobias and distrust the west harbor towards other countries, I think Asia has taken things in the right perspective. Thailand trusts Singapore not to sabotage its telecommunications industry, why can't US trust the middle east? In business, its a symbiotic relationship. My gains and losses are yours too. Why wouldn't Temasek want the telecom arm of Shin Corp to do well? Similarly, with shipping. Why wouldn't the middle eastern BUSINESSMEN, want their own shipping company to do well? INstead, UK is afraid. Scared of its perceived reliance and therefore vulnerability. Sometimes you have to rely on others to improve. Its the basis of the concept of free trade isn't it? You produce what you're good at and I do the same, then we exchange so we both get the best of both worlds. Its a siege mentality because the west is under attack. Maybe they understand that their dominance now is begin threatened. So what do they do? Sabotage Thailand's progress through the west's most effective technique so far, Human Rights.
"Thaksin's 2003 campaign against drug dealers was alleged to amount to the extrajudicial execution of several hundred suspects, and was heavily criticized by civil rights watchdogs. There have also been complaints that Thaksin has been stacking the civil service with his relatives and business associates, for example by elevating his cousin, General Chaiyasit Shinawatra, from a remote district to Army commander-in-chief."
They make it seem that eradicating the illegal and not to mention violent, powerful and criminal drug trade was a bad thing. The truth behind the matter is that in this case human rights would have been to the advantage of the drug lords. In critcising the drug campaign, the human rights groups place the government in political disrepute, reducing support for politicians against the drug trade. Indirectly, this would have been to the advantage of the drug lords. I will not go so far as to say that this was the intention of Amnesty International, however, there is something to say about the recipeint of human rights.
Though, human rights was conceived to be universal, it was clearly targetted disruptive governments. The disruptive agents in the case of the drug wars are the drug lords. They have taken human rights and reversed its original purpose, the betterment of the average person would definitely not have been furthered by allowing criminals to hide behind it. Take Italy for example, in the south crime is rampant and there are still reminants of mafia influence. But fair trial and rights against preventive detention prohibit the effectiveness of current measures. I'm not saying that you take all humn rights away, I'm just advocating for more extreme measures for extreme circumstances.
My last point. Proportionality of public reaction just one year ago,
"He was re-elected in the February 2005 elections. In spite of reports of widespread corruption in his administration, Thaksin won a landslide victory, with his Thai Rak Thai party sweeping 374 out of 500 seats in Parliament, while the main opposition Democrat Party lost more than a quarter of its representation, retaining only 96 seats."
He had widespread support for the economic progress, less crime and the new underground train system in Bangkok (which gets you about anywhere, solved transportation issues clearly). Now, he sells shares, which are his own to another company. A private matter. He's called to step down.
Generally, we are afraid of politicians who siphon off money at the expense of the economy. They leave the economy in ruin and abscon the gains. In this case, Thaksin would not have been able to sell his shares for so much money if not for the fact that Shin Corp was doing well. Thats the point isn't it? the company grew along with the economy. It was managed properly and profitable such that another company found it worth 1 billion dollars to invest. I stress again that the sale of shares was a private matter. Now, he's been called to step down dispite everything he's done for the country in the short period of time he's been in power. Where is the proportionality in that? I think they will be hard pressed to find a successor to Thaksin.
Good Luck Thailand and remember you heard it first on this blog.