Economic, diplomatic costs of Thai coup set to rise

Subject

Political, economic and diplomatic outlook.

Significance

The military-led government on November 4 approved 1.3 billion dollars in subsidies to rice and rubber farmers to placate rural Thais loyal to the Pheu Thai Party (PTP) and to deposed Prime Ministers Thaksin and Yingluck Shinawatra. On the other hand, Prime Minister General Prayuth Chan-ocha pre-empted protests in support of Yingluck on November 1 by invoking Article 44 of the martial law constitution, which gives the junta extraordinary powers.

Impacts

• Bangkok's diplomatic role in ASEAN will continue to diminish.
• Thailand's entry into the TPP before mid-2017 is highly unlikely.
• The junta's cyber surveillance risks reputational pitfalls for global tech majors.