Royalty is still a fact of life in much of Asia and has been able to maintain its mystique and relevance for societies that retain it.

In this week's edition of Time magazine, author Pico Iyer pointed to His Majesty the King's place in Thai society as "powerful proof that royalty is still relevant".

Iyer said Asian monarchs had largely succeeded in maintaining the mystique behind royalty, while the number of democracies and republics in other parts of the world has exploded from 40 to about 120 - just in the last 25 years.

"Monarchs, as a consequence, have come to seem as obsolete as court jesters or princesses in towers. For nine out of 10 people in the world, royalty is the stuff of fairy tales," Iyer said.

This past year Asian royals witnessed both sides of "the push and pull".

Six months ago, King Jigme Singye Wangchuck of Bhutan stunned the world by announcing that he was willing to step down to encourage democracy in his country. But in Nepal, King Gyanendra clamped down with absolute power - until bloody street protests forced him to give in to the Parliament, which has just stripped him of many powers.

Iyer said Thailand was also headed for political chaos with the mass demonstrations against Prime Minister Thaksin Shinawatra. But the drama ended when HM the King stepped in and urged all parties to settle their differences.

"Thailand's King possesses the moral authority to do this because he sits above politics, as if belonging to a different realm. He knows that his role as King is to be a symbol, not a personality, precisely because (unlike a politician) he does not have to hustle and promote himself to win the people's favour," he said.

Iyer pointed out that HM is hugely admired across the country, an acclaimed musician, painter, inventor and a philanthropist who channelled his wealth and knowledge through his development projects to help his people.

"But what he really seems to have mastered is the art of remaining highly visible, yet at some level out of sight. His thoughts and longings are not chronicled in the daily papers; instead, he remains a figurehead who holds the country together in part by projecting an image of constancy, changeless even as he guides his nation through a series of dramatic, modernising changes," Iyer said.

"Many cultures in Asia seem to understand the power of illusion, or at least the value of sometimes suspending disbelief, and acknowledging that (as in a marriage) not knowing everything can be the best key to survival," Iyer said.

He said the Japanese imperial family has been able to stay in place in part thanks to a compliant press that does not report on the family's many difficulties, and in part through a determination to keep their private lives relatively private.

"Monarchs can only function if we don't look at them too closely, and quietly consent to the notion that they can bring us all together," Iyer said.