Political Landscape - Thailand

Goals

To understand Thailand's current political and financial landscape. An ideal response would include at least three political/government trends or initiatives. Ultimately, the end goal is to obtain an understatement of the country's broad cultural context to guide a gold investment strategy.

Early Findings

The Political Landscape in Thailand

  • Thailand follows a constitutional monarchy model. The country is currently enduring a lot of political instability environment due to recent developments. In May 2014, Thailand's military declared Coup d'Etat, taking over control of the government and suspending the constitution. This was followed by the imposition of martial, law, which lasted until April 2015.
  • The first general election after the coup was held in March 2019. In July 2019, the "junta chief Prayuth Chan-o-Choa ordered an end to the military rule but kept the power as Prime Minister." This marked the beginning of a new political landscape, characterized by disputes in parliament and social media influence.
  • Despite the end of the coup, the military still holds significant power in the country and dominates the parliament.
  • The country is extremely polarized, divided between royal nationalists and democrats. However, the pandemic is changing this scenario with previously pro-establishment actors, such as public health leaders, criticizing political decisions and urban middle and upper classes losing trust in the government.

Government Initiatives

  • Thailand's National Strategic Plan places emphasis on "improving the business environment, boosting the country's competitiveness and long-term economic performance through the development of rail, road, airport, and electricity infrastructures."
  • The plan is also called "Thailand 4.0." It aims to transform the country into a high-income, innovative, value-based economy, with "an emphasis on 12 fields such as automation and robotics, aviation and logistics, biofuel and biochemicals, and digital."
  • The government is also currently looking into the "bio, circular and green (BCG) economy to help drive economic growth over the next five years." BGC was placed on the national agenda to ensure the country can follow the global trend and increase farm products' value. The BGC strategic plan covers the following sectors: farm and food, energy and biochemicals, healthcare and medical services, and tourism and creative economy.

Summary

  • Our initial hour of research was able to provide a brief overview of the current political landscape and government plans and initiatives. Thailand's political and cultural landscape is quite complex and uncertain. Additionally, the country is feeling the impact of the pandemic and the political changes it is creating.
  • We propose research that will dive deep into the country's current scenario, focusing on providing enough information and background to contextualize an outsider. This would be divided into two parts: political landscape, financial/economic, and social climate.
  • Please select one or more of the options provided in the proposed scoping section below.

Research proposal:

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