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Published on November 13, 2007

Your report on the recommendation of Professor Robert Mundell, the 1999 Nobel Laureate for Economics, for Thailand to adopt a fixed exchange rate rather than subject itself to a floating regime pleases me immensely. This was also the recommendation previously made by Dr Olarn Chaipravat and Dr Ammar Siamwalla, our own top economists, whose views were previously rejected roughly by both the governor of the Bank of Thailand and the finance minister.

Please allow me to reiterate Professor Mundell's rationale for advising Thailand, a medium-sized and open economy, to follow China, Austria, the Netherlands and Hong Kong in adopting a fixed exchange rate, possibly based on a pool of international currencies.

First, a fixed exchange (or sometimes coyly called a targeted exchange regime) provides certainty and an important basis of economic stability with clear-cut mechanisms and as such is infertile for speculators. China's success is attributed to this unorthodox regime of a fixed exchange rate. (Malaysia is another country that has benefited with a respectable yearly growth rate. Thailand has to defend its position at a huge cost against speculators because of the International Monetary Fund's recommended system of floating in 1997).

Second, the current misalignment of global exchange policy requires a global crisis to realign the world from the US dollar, hinting that the current imbalance of US/China trade cannot easily be adjusted. The current US sub-prime mortgage problem is considered a blip and not a crisis and thus not likely to serve as a catalyst to put the world's exchange rates in order.

I hope this is a final wake-up call and those who matter will take note and act upon it now rather than be sorry afterwards.

Songdej Praditsmanont

Bangkok

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Further probing pieces welcome on nuclear issue

Re: "'Nuclear power worth the waste'", News, November 12.

Congratulations to Pennapa Hongthong on her incisive yet not totally successful attempts to wring sensible answers from nuclear-power proponent Pricha Karasuddhi in yesterday's edition. The Thai media needs more brave questioning of this standard - and when the subject refuses to answer, as he did on one occasion, The Nation was right to report that too.

Let us not be confused by the issue of nuclear waste. It doesn't always fit into the small vans we see carrying potentially hazardous medical waste. I doubt very much indeed that after 40 years the US needs storage only the size of a football field, as claimed by the interviewee. In Britain an expert assured me 20 years ago that nuclear waste can come in the form of 10-wheel trucks!

For me, the outstanding comment on the topic so far came from the California-based engineer who wrote to you some days back saying that due to lax attitudes on maintenance and safety, Thailand is nowhere near ready yet for nuclear power. And he is a Thai!

David Hardcastle

Chiang Mai

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Candidates who refuse to debate not worth a vote

Re: "Debates draw out quality of leaders", Editorial, November 12.

It's excellent that television channels have organised debates between major parties, so that voters can make educated choices. It's highly regrettable that the People Power Party's Samak Sundaravej has consistently opted out despite being invited, and it's a sign of the poor quality of voters that they'd chose a party whose prime minister-designate refuses to defend his party's stances.

Voters have the right to hear from each party's decision-maker himself, not from a subordinate whose statements could be overruled once he takes office. Thus, to draw attention to a prime ministerial candidate's unwillingness to appear, his party's place at the podium should be replaced by his cardboard likeness, and his party's time given to his opponents.

The Public Relations Department should schedule more debates between candidates for prime minister of the major parties as a public service, each time focusing on different key policy areas, eg, solving our troubles in the South, education reform, the role of foreigners in developing our economy (including the Foreign Business Act), what they'd do about Burma, etc. Let voters see who has substance and who's just a blast of bad breath, full of sound and fury, signifying nothing.

The more our voters are informed about their choices, the less the justification the military will have to put on another coup if they're not satisfied with the outcome - and that in itself is a most worthwhile goal.

Furthermore, as regards John Arnone's letter of November 7 ("Don't bend the rules for minority pressure groups"), I quite agree that insurance companies should not bend the rules for pressure groups, for, as he points out, that would lead to anarchy.

But Arnone misunderstands the situation and/or the life insurance industry. Any life insurance actuary or statistician can tell him that the main factor an insurer is concerned about is: out of a large number of people who are homogenous in a given respect, eg, sexual inclination, occupation, or health habit, how many will die in a given year, and at what age will they die? From that, the actuary will calculate premiums which are competitive and which compensate the firm for the risk taken. Thus, smokers, drinkers, racing car drivers and others with high-risk factors pay more than others.

All the gays are asking is that the rule that premiums be related to risk be applied to them as well, and that seems logical enough.

Burin Kantabutra

Bangkok

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Suree's appearance for Man City may be timely

As far as timing goes, I predict that on Saturday, December 22, when Manchester City plays Aston Villa in an away game, one that of course will be televised around the country, there is quite a good chance that Suree Sukha will be brought on in the 75th minute.

James Groveway

Bangkok

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Move to benefit Bangkok disabled a positive step

The welcome news that Bangkok has opened its first footpath accommodating persons with disabilities as well as the aged suffering from impaired mobility, represents a giant step forward for humankind. Those visionaries who have helped further enable the disabled and increased informed awareness for the general public deserve accolades.

To many, the term disability conveys limitations, weaknesses or barriers to be overcome. Wouldn't it be better to emphasise positive characteristics, such as capabilities, effectiveness and strengths? The primary barriers to be overcome include social oppression and bias, discriminatory attitudes based on biological differences (such as disabilities, gender, race, ethnicity, age or sexual orientation). Tolerance of diversity, equal rights for one and all and recognition of individual differences represent open access keys.

Just as "Black is beautiful!" has become popularised for African-Americans, "Disabled and proud!" has been suggested to emphasise dignity, respect and self-empowerment for persons with special needs. The Special Olympics and Fespic competitions have provided opportunities for gifted Thai professional athletes who are physically challenged to make themselves, their families and their nation proud. Let's all support our talented squads as they prepare to demonstrate their personal best in Beijing in 2008.

Chanchai Prasertson

Bangkok

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