The Nation


Letters to the Editor

Debt could gut Thai democracy, too

An important part of the political protests in Thailand is opposition to economic growth via debt. This approach to economics has virtually emasculated the EU and US, who are now in such dire straits that they must kowtow to China and Saudi Arabia for bailout money.

Likewise, the pursuit of economic growth via unmanageable debt in Thailand is akin to opening the door wide for China and Saudi Arabia to come in and take over with their bailout money. And in that event the EU and US would be powerless to help Thais, as the EU and US have lost the economic clout to prevent it.

The pursuit of economic growth via debt that cannot be paid off is destroying democratic capitalism and is empowering the non-democracies of China and Saudi Arabia.

Guy Baker


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