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Published on November 28, 2007

I wonder whether the major or the Thai general who is pushing for the legislation to make cars stop in the street and for people to stand still for the anthem realise that their anthem only extols the Thai race at the expense of other ethnic and cultural groups, and that it defines the country as a republic with no mention of the King. Since we have not yet drastically changed the constitution, I think I will continue to ignore the said anthem.

As a former lance corporal in the British cadet corps, I feel absolutely overawed by all these high-ranking military personages with their love of the country, which I hope will not become a republic too soon. They make me feel as if I should be marching in step behind my sergeant major again.

Lance Corporal Sumet Jumsai

Bangkok

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Criticism of IMF off the mark

Re: "Financial hypocrisy rears its head", Opinion, November 16.

Mr Stiglitz's op-ed piece draws some wrong conclusions from the Asian financial crisis a decade ago.

He is wrong to say that the IMF's diagnosis and prescriptions were "clearly wrong". Taking the case of Korea that he cites, the IMF-supported programme in Korea stabilised the foreign exchange crisis and provided the catalyst for much-needed corporate- and financial-sector restructuring. Within a year, the severe economic downturn set off by the crisis had begun to moderate, the won stabilised, interest rates had returned to pre-crisis levels, and foreign exchange reserves were replenished from a depleted level. Within two years, real GDP exceeded the pre-crisis level. A decade after the crisis, the economy is now nearly 50 per cent larger, per capita income has almost tripled, and foreign exchange reserves topped US$250 billion. By any measure, this was a successful programme.

Mr Stiglitz is also wrong to say that the "IMF urged the sale of the country's banks to American investors". As an IMF mission chief to Korea at the time, I can say categorically that the IMF made no such demand. Instead, Korea took the opportunity to liberalise and reform its financial system. This has now allowed Korea to aspire to develop Seoul into an international financial centre - a goal that is hardly possible without the foreign banks and capital flows that Mr Stiglitz seems to castigate. More importantly, Korea has not reversed any of the reform policies it had implemented during the crisis, something it surely would have done if the "IMF prescriptions" for Korea were wrong.

Mr Stiglitz's drawing of a contrast between the interest rate advice to East Asia and the current sub-prime crisis is misleading, as the current sub-prime debacle is not a foreign exchange crisis. East Asia faced a foreign exchange as well as a banking crisis, and thus faced a dilemma about interest rate policy. The foreign exchange crisis called for an increase in interest rates, while the banking crisis called for a lowering of interest rates.

I do agree, however, that the sub-prime crisis shows that not enough has been done to ensure global financial stability. Mr Camdessus, former managing director of the IMF, recently pointed out the sub-prime mess is a crisis that should not have happened had the IMF membership implemented what had been agreed a decade ago. More specifically, I believe that greater transparency should apply to new financial instruments, and more attention should be paid to the spillover effects of financial-sector fragilities in systemically important countries. These are the right lessons from the Asian financial crisis.

Wanda Tseng

IMF mission chief to Korea during the 1997 crisis and former deputy director, Asia and Pacific Department, IMF

Bangkok

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Salvage some pride for the 'Pride of the Navy'

Re: "Navy needs to choose its toys more carefully", Letters, November 27.

Given Burin Kantabutra's rather sermonising tone in his recent postings, I have the feeling there could be more than just the criticism of budgetary issues and the types of vessels the Navy feels are relevant. One issue he has made clear, however, is that the aircraft carrier "Chakri Narubet", the pride of the Thai Navy, does not serve a valid purpose; is a fuel-guzzling monster even in military terms; was overpriced when purchased; and sits unused perhaps, in Burin's standards, as a naval vessel not worthy of respect. Hardly marketable points to any perspective buyer that he eagerly urges the Navy and the Defence minister to find.

The only other similar class of carrier I personally have seen was docked in north San Francisco bay, abandoned and in complete disrepair except as a prop for the concluding scenes of a Dirty Harry movie; totally worthless: a fate no patriotic Thai would wish for the pride of its Navy.

I feel the destiny of the carrier has been left in the air: it can sit at the dock, as it has for most of its history; be turned into a naval museum; or, as I have previously suggested, decommissioned, sold and moved off base as an adjunct to some other seaside venue and opened to the public.

Mr Bill

Bangkok 

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Police uniforms cut a dash; leave them be

Re: "Cops get chance to cool down", News, November 24.

I read with particular distress your recent news item concerning the new police uniforms. As a lady (unmarried) of a certain age, and living in foreign parts, there are few pleasures routinely available to me. I do however enjoy each and every day in this charming country, albeit with a strong sense of what is appropriate and decorous behaviour.

Money, a necessity of modern life, and a religion to many, has not been of import in my life. I prefer to consume only the beauty of the world that surrounds me. Nature furnishes the vast majority of this but occasionally there is a little something that is man-made that pleases my eye. That little something being the police officers in their smart uniforms and boots. They do cut a dash.

Imagine my horror to read that for some spurious reason involving, apparently, air conditioning in police offices, they are to be put into ill-fitting slacks and comfortable rubber shoes. I cannot imagine any rubber shoes ever being comfortable, particularly in a climate such as Thailand's, and, I believe, the wearing of comfortable shoes is a euphemism used to describe a lady who enjoys the company of other ladies.

I am aghast, truly traumatised. My world has not received such a crushing blow since Percy my pet parakeet, of some 16 years, and a dear dear friend who had a very considerable English, Latin and surprisingly Thai repertoire - since no Thai was spoken in our household, a conundrum I have never been able to shed light on - was found by my sister Dolly in our refrigerator, as stiff as a board.

I remember my younger brother Algernon at his passing out parade at the Royal Military Academy telling me about his delightful drill sergeant who entreated him, and the other officer cadets, to take pride in their uniforms and show some swank and swagger - which apparently is undemanding, Algernon informed me, if one has a uniform of which one is proud.

I fear being made to look like pest control technicians will not engender pride in the boys in brown - or soon to be khaki with comfortable rubber shoes and snappy sew-on badges.

Yours deeply distressed,

Catherine Chobley-Dickson

BANGKOK

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