Tycoon panic

23 03 2020

Thailand’s Sino-Thai tycoons, many of them in retail and basic consumer goods, have probably done better than most as the virus crisis bites.

However, their panic looks class-based as they worry about “disunity,” with the headline, “Tycoons urge unity amid chaos.”

The story has them “urging members of the business community to join hands with the government in cushioning the economic impact of the Covid-19 outbreak…”.

Thai Chamber of Commerce chairman Kalin Sarasin says that tycoons “including Charoen Pokphand Group’s Dhanin Chearavanont, Singha Corporation’s Santi Bhirombhakdi, Saha Pathanapibul’s Boonchai Chokwatana, and TCC Group’s Charoen Sirivadhanabhakdi…” have agreed on measures to “help soften the blow of the coronavirus outbreak.”

As far as we can tell, they are most interested in PR.

Will they do anything to “strengthen… the competitiveness of SMEs, enhanc[e]… workers’ skills and bridg[e]… income gaps”? We doubt it. They’ve done next to nothing for decades in these areas as their own empires have expanded and they have become monumentally rich.

In any case, the Chamber seems to want government to do the work. As Kalin said, “TCC’s suggestions are always well accepted by the government.”

And, they reiterated the usual blarney: “Kalin said these tycoons also praised the TCC’s efforts in supporting the government’s Pracharath scheme, promoting good governance and adopting the sufficiency economic philosophy.”

In other words, the tycoons are protecting their interests and ideologically barricading themselves.


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18 04 2020
Kowtowing to the tycoons | Political Prisoners in Thailand

[…] the virus began to look threatening for Thailand, the Sino-Thai tycoons panicked, worrying about “disunity.” They seemed satisfied with the junta’s post-junta […]

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