Investors are hoping for post-election stability in Thailand — analysts say that may not happen
Investors are hoping for greater political and economic stability in Thailand after the country's upcoming general election — but some analysts aren't so sure that will come to pass.
None of the parties are expected to single-handedly win enough seats to form the next government, which means the most likely scenario is a coalition administration. That may be challenging, however, in a polarized political environment like Thailand, analysts said. He explained that a victory by the pro-army Palang Pracharath Party would"inflame the opposition," while a new government led by anti-military Pheu Thai Party would"have its authority significantly constrained by military-staffed unelected bodies."
"Tensions could flare up again if the electorate feels that it is being denied free elections. Another outbreak of protests and violent conflict, similar to those observed in 2010 and 2014, would deal a significant blow to the economy," the economists wrote in a note last week. The Southeast Asian nation with a population of around 70 million was one of the world's most unequal economies, according to a report last year from Swiss bank Credit Suisse. The report, which studied wealth around the world, found that Thailand's Gini index was at 90.2 percent. The Gini index, which ranges from 0 to 100 percent, measures the distribution of wealth and a larger number means inequality is more severe.
"Our campaign is to better the well-being of all Thai people," said Anutin Charnvirakul, party leader and prime minister candidate for Bhumjaithai. He told CNBC that he would push for deregulation and better protection for farmers if his party forms part of the new government.
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