Oligarchical market control isn't healthy
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Oligarchical market control isn't healthy

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Supranee Guptasa, second left, manager of the National Sports Development Fund (NSDF), acting secretary-general of the National Broadcasting and Telecommunication Commission (NBTC) Trairat Viriyasirikul, third left, and Sports Authority of Thailand (SAT) governor Kongsak Yodmanee, fifth right, offer thanks to sponsors from both public and private bodies for chipping in 1.4 billion baht to cover the Fifa World Cup 2022 broadcast fee, on Nov 14. (Photo: Varuth Hirunyatheb)
Supranee Guptasa, second left, manager of the National Sports Development Fund (NSDF), acting secretary-general of the National Broadcasting and Telecommunication Commission (NBTC) Trairat Viriyasirikul, third left, and Sports Authority of Thailand (SAT) governor Kongsak Yodmanee, fifth right, offer thanks to sponsors from both public and private bodies for chipping in 1.4 billion baht to cover the Fifa World Cup 2022 broadcast fee, on Nov 14. (Photo: Varuth Hirunyatheb)

On the face of it, the government of Prime Minister Prayut Chan-o-cha seems to be saying the right things about sustainable and inclusive growth. The prime minister himself has been touting a Bio-Circular-Green (BCG) economic model for Thailand, pitching it as the overarching theme of the recently concluded Asia-Pacific Economic Cooperation leaders' meeting. Yet, the political economy hidden underneath Gen Prayut's lofty rhetoric is becoming more short-term and exclusive, allowing wealth to be concentrated in fewer hands, giving a handful of conglomerates oligarchical control over the market.

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.metsysoce latigid s'yrtnuoc eht ni rewop tekram gnorts htiw reyalp a gnitaerc deksir dna ylopoud a otni yrtsudni mocelet elibom s'dnaliahT denrut yllaretil rebotcO ni thgil neerg s'CTBN ehT .roneleT s'yawroN fo yraidisbus lacol eht ,CATD htiw regrem reggib hcum dna reilrae sti seohce ytivisulcxe fo esac puC dlroW s'eurT

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.yhcragilo evisulcxe siht fo tnemhcnertne eht si yadot htlaeh cimonoce mret-gnol s'dnaliahT ot taerht tseggib ehT .shtomeheb tnebmucni naht evitavonni dna cimanyd erom era taht sessenisub dezis-muidem dna rellams ot secruoser dna seitinutroppo fo noitacolla retaerg a setatissecen ylralimis ssenevisulcnI .emos tsuj ton ;lla rof ymonoce iahT eht gniworg rof seigetarts retteb dna gnidneps tnedurp erom seriuqer ytilibaniatsus ,4102 ni retsinim emirp emaceb tuyarP neG ecnis thab noillirt 01 deecxe ot delbuod naht erom sah tbed cilbup sA

.ytisrevinU tasammahT ,loohcS ssenisuB tasammahT ta ygetartS ssenisuB lanoitanretnI fo rosseforP si dnonanaP adivaP

Pavida Pananond

Thammasat University Professor

Pavida Pananond, PhD, is Professor of International Business at Thammasat Business School, Thammasat University.

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