STREET WISE

Doubts over social unease mar positive economic outlook


MANY indicators seem to be telling us that Thailand is heading towards prosperity unseen in many years.

The SET Index ended last week at a level untouched since the financial crisis erupted in 1997. It should not stop there, as analysts expect the index to rise further, probably to over 1,000 points this year.

Sentiment among  analysts is positive thanks to the unlocking of nearly all the Map Ta Phut projects. Plus capital keeps flowing in, as foreign investors are seeking higher returns in light of the weaker dollar, so market momentum has a long way to run.

 With turnover of Bt52 billion on Friday and no end in sight to capital inflows, the SET's market capitalisation on that day hit Bt7 trillion, the highest since the exchange was up 40 years ago.

 Many research houses are bullish that, even though the economy could slow down a bit in the latter half, exports will remain robust throughout the year. Though the growth rate may not repeat the 40-per-cent pace of the first half, 20-per-cent growth is alluring enough.

 But with all the good news, why do I feel something in my stomach? Because I'm not totally convinced that Thailand's journey to prosperity will go unchecked.

 Like what was said at the Thailand Management Development's conference last week, for sustainability, Thailand has yet to embark on so many infrastructure projects.

Equally important, the 'double

standards' must be addressed or they could lead to social disparity. Lessons from the Ayutthaya era or the ancient Roman Empire tell us that a lack of harmony only leads to the demise of a nation, large or small.

 I recently came across a young man who bravely branded himself a "red" supporter. He is one of those working for a non-government organisation, formed to help the reds who were ripped of their freedom after the May 19 dispersal.

Asked what his red brothers are feeling right now towards government officers, he said, "There are fears. They don't want to take part in anything concerning the reds for fear of being arrested. When we were at a Northeastern province for a meeting to inform them how to help their relatives now in custody, they were reluctant to join us".

He also expressed disappointment that no local reporters cared to cover the suffering of victims of unfair treatment.

Asked if this encouraged him to join the winning side, he simply said, "No. We're suppressed. We're afraid and we have lost trust in the government."

Yes, many people, particularly those in the Northeast, were arrested weeks after the May 19 dispersal. Indeed, police were more diligent than the Department of Special Investigation.

Even though months have passed, the DSI has not yet unveiled any concrete conclusion to their investigation of the causes of death of the 91 persons killed during the dispersal.

As the manhunt is apparently more important than finding the truth behind people's deaths, it's easy for people to lose faith in the government.

How many roads must be built to the villages to regain these people's lost trust?

How many scholarships do we need to ease the suppressed pain?

Just as the government may have known, all this free infrastructure is nothing compared to their deeply-rooted frustration over the unfairness.


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