Beyond handouts
Re: "Plan won't end poverty", (BP, Sept 30).
Looking at some economic stimulus measures implemented by the current administration in Thailand, such as the 10k baht (digital) cash handout, those one-off shots would not likely have a long-lasting, meaningful impact on the domestic economy unless they seriously tackle deep-rooted structural issues. In response to the myriad challenges ahead, Thailand urgently needs a structural shift, making an immediate transition to a more resilient, inclusive, and efficient economy.
Yet, equally crucial, most long-term economic policies pushed by a populist government without a long vision and enduring commitment could go down the drain because these politicians often succumb to those who stand reluctant to change and protect their vested interests. Such an establishment is a formidable power for the politics at play.
Economic development would not magically happen overnight. For developing nations, economic transformation would face countless chicken-and-egg issues, such as massive infrastructure financing versus accelerated economic growth. But one could still argue that Thailand, situated geographically at the heart of the SEA region, is surely able to kick start growth once again, strategically leveraging its advantages.
Perhaps Thai leaders first need to think big and out of the box to come up with a fitting blueprint. Thailand used to be known as "Amazing Thailand" or "Land of Smiles", though I wonder what exactly those monikers mean for Thai people now.