The Economist used the title to describe how both Thais and foreign stakeholders view with trepidation their future under a new king.
King Bhumibol Aduljadej who died after a lingering illness at 88, was revered by all because of how he used the monarchy to steer his people and nation towards progressive development. He was the equilibrium point in Thai politics, which has been a rough-and-tumble game among the politicians, the generals and the elite. The King had the last word in political leadership because his people believed in his wisdom and love of country.
Focus is now on the crown prince, soon to become king because the laws of monarchical succession in Thailand specify a male, unlike in many European countries with a monarchical tradition as well.
Maha Vajiralongkorn has divorced a succession of wives thrice, loves the good life, and was once photographed in Munich’s airport wearing jeans and a tank top, exposing a heavily tattooed torso (albeit the temporary henna type). His escapades has shocked the Thais, who expect their future king to be in the mold of his revered father and even Queen Sirikit.
The power plays that may once more ensue in Thai politics without a steady and firm hand considered as the imprimatur without question of the King has somehow discombobulated Thailand’s foreseeable future even as the nation deeply mourns the passing of the beloved Bhumibol.
Recall how the duly-elected Thaksin Shinawatra was ousted by the generals on allegations of massive corruption. He still lives in exile, now shuttling between London and Dubai where he maintains temporary residences, still nurturing hopes of a political comeback.
In the aftermath of the coup, Thailand seemed to get back to normalcy, and a peaceful transfer of power happened when Thaksin’s sister, Yingluck, won with a majority in Parliament in 2011 on the strength of Thaksin’s popularity among the rural folk. Yingluck then proclaimed a rice pledging policy, an ill-advised scheme which pumped in so much money to rice farmers but destroyed Thailand’s place in the international rice market. Unable to sell high-cost rice which stockpiled in public warehouses, the economy teetered on the brink with unsustainable deficits.
In 2014, she was ousted and the generals came back to power, with the now-deceased King restraining a political tsunami in the streets of Bangkok by recognizing the coup. Yingluck Shinawatra has been fined a billion dollars recently by Thailand’s anti-graft court for her rice pledging policy.
There are stories of massive corruption engineered supposedly by her exiled brother Thaksin in collusion with a neighboring country which centered on manipulating the rice market. But these are of little interest to our readers.
Thailand is in deep mourning, but the undercurrents of an unpopular succession to the throne are quite bothersome. The nation, and foreign investors which have a large stake in the Thai economy are, as an Economist report aptly describes, “on tenterhooks.”
* * *
On tenterhooks as well are those who bother to observe the dirtiest presidential campaign in the US of A ever, between Hillary Clinton who somehow cannot find a wellspring of trust among voters, and Donald Trump, the 71-year-old enfant terrible the Republicans have foisted on their politics and the world.
Is Hillary a sure winner, as the polls and the electoral college voting trends indicate? Can Trump, four points below nationally, but losing heavily in the big states with big electoral vote counts, still upset Hillary’s applecart eight days from now?
It’s quite fun watching the political game in the United States. What isn’t so funny to a world on tenterhooks is what happens after, whichever way it goes.
* * *
No longer on tenterhooks is Japan’s political elite, led by Prime Minister Shinzo Abe, after receiving assurances from our president in his three-day Tokyo visit, and the multitude of businessmen who received him most warmly in a business conference last Wednesday, October 26.
Abe had a lengthy one-on-one with Duterte after his appearance before the Keidanren (Japan Business Federation). The business elite of Japan cheered his brief speech which showed them his sincerity, his commitment, his political will, and above all, his nationalism, the kind of character they admire and respect.
Filipinos in that audience felt so proud that at last we have such a leader.
* * *
Flying back to Taipei for a two-day Joint Economic Conference, we were assured by a high-ranking minister that they do not mind whatsoever the media reportage coming from the mostly-western press about the so-called “human rights” situation or the hyped-up “separation” brouhaha in China.
“We know what the real score is,” the minister told us. “Our ‘ambassador’ keeps us grounded on what is actually happening in your country, and the huge popularity of your president among the people.”
Gamely, they posed upon the Taiwanese photographer’s suggestion, to the by-now popular outstretched and clenched fist mnemonic of the Duterte leadership.
Business as usual.
