Thaksinomics takes the bang out of Bangkok: William Pesek Jr. - Bloomberg, July 10, 2005
...It's also impossible to ignore a death-rattle of sorts pervading
Thailand -- not of the economy, but of "Thaksinomics,'' the
name given to Thaksin's strategies for growth.
...Yet consumers' vulnerability to higher oil prices exposes what
"Thaksinomics'' really is: old-fashioned, debt-financed pump
priming dressed up as something new and revolutionary. The success
of Thaksin's strategy to raise Thai incomes and make the economy
less reliant on exports is belied by how quickly millions of his
people have fallen on hard times.
..."It's really the media that's creating this idea that Thailand
is in trouble again,'' Claudia Zeisberger, program director of the
Asia Pacific Institute of Finance, said at a July 7 panel discussion
hosted by Bloomberg. "Let's remember that this is a maturing
economy that now can handle these problems...''