Time to fight back
Re: "Moody's cuts outlook for banks", (BP, May 2).
The US regularly employs a multi-faceted approach to assert its influence over Thailand, utilising economic pressures, diplomatic manoeuvres, and control over global narratives to maintain leverage.
This approach, also used worldwide, begins with soft power and can escalate to direct military action. The current coercive activities are positioned about halfway up the intensity scale.
The recent action by Moody's to lower Thailand's rating seems, on the surface, to be an independent private company action, but offshore actions involving US national interests are actually planned and coordinated in Washington.
History has shown us the US military has intervened in private US company businesses --gunboat diplomacy, for example -- and private company technology, such as social media platforms, has been weaponised to further US government interests, as seen in the recent Hong Kong protests.
Rather than merely protesting Moody's unfounded assessment, Thailand should actively defend its national interests by taking decisive action against misinformation. Lee Kuan Yew's approach to managing foreign narratives of Singapore in 1971 serves as a strong precedent and example against misinformation, groundless reporting, and biased conclusions.
Like Lee, we can counter Moody's move with libel lawsuits, public refutations to counter misleading claims, or even banning the local operation of Moody's. Thailand can operate without Moody's, but the agency cannot sell world edition subscriptions without access to Thai government reports and statistics, and local business information. By enforcing accountability, Thailand can strengthen its global position while setting clear boundaries against economic coercion.
M.L. Saksiri Kridakorn
