Thailand must beware economic colonisation

your say June 21, 2014 00:00

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Re: "Thais can plot new course as tide shifts against globalisation", Opinion, June 20.

I agree with Thanong Khanthong that, so far, the National Council for Peace and Order under the leadership of General Prayuth Chan-ocha has done a good job in bringing peace and stability back to the country.
Nevertheless, the big task of bringing the country back to sustainable economic stability and prosperity is still ahead of us.
Thanong is correct in saying that we should look at globalisation with a measure of scepticism, in that it brings neither sustainable wealth nor equality as it seems to have promised.
I would add that we should be aware of two types of economic colonisation from richer countries:
First are the harmful technologies:
l GMO seeds and crops that would render our farmers poorer and dependent on foreign corporations.
l The use of “hydraulic fracturing” – injecting water mixed with chemicals to fracture underground rocks to extract oil and natural gas. This practice is being used in the US without sufficient legal controls and threatens long-term environmental hazards.
Second is the use of big money to buy out, or take over, our country’s strategic businesses related to energy, the Internet and satellites for our national defence.
Vint Chavala