When the tanks rolled into Bangkok in September 2006 to effect a bloodless and oddly anticlimactic coup, investors reacted with enthusiasm. Thailand’s controversial prime minister, Thaksin Shinawatra, had been bad for market sentiment, fund managers said; even having the army in charge should be a change for the good.
It hasn’t quite worked out that way. The interim government – whose definition of interim already seems to be erring towards the permanent – has lurched into unpopular revisions of finance and business policy that have quickly made Thailand a pariah of world economic opinion.
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