After several days of sunshine, today's rain seemed to be in keeping with the sorrow of the Thais. As if it were an antidote, the Sunday's papers switched to more colored photos. Thai people kept going en masse to the Grand Palace to pay their respect to their beloved King.
The news is slowly distilled day after day. Black clothes are selling off due to the increased demand. The chief of the junta, Prayut-o-cha, who is acting as PM, declared with his usual gusto that there was no question about the succession. This is a clear understatement, perhaps done to reassure people. In fact, the questions are many. First of all, it was confirmed that the mourning will last one full year. Only after that, a date will it be decided for the royal incineration. This is only a small surprise because it was announced and expected to be so. However, it was slightly more surprising to learn that HRH Crown Prince Maha Vajiralongkorn had requested a full year to accept ascending to the throne. So it means that the appointed Regent, Gen. Prem Tinsulanonda, will rule the kingdom until the end of the royal mourning period. The current regent is 96. So what will happen if, himself, passes away? Today is Sunday. How will the market react tomorrow? It has been stable since HM the King passed away last Thursday. Moreover, it is feared that this situation might have another negative impact on an already ailing economy. Can investors trust doing business in the country on the present terms? On top of that, the actual incertitude may have an even more acute effect for the tourist industry. Maybe not if the baht drops and there is a clear effort made to encourage foreign visitors. But will that be enough?
The Thais are too sad at the moment to grasp all the incertitudes. There is no doubt this is the end of an era. Yet, being too pessimistic on the situation does not help. The Thais are a loving and gifted nation. Hopefully, their leaders will try their best to tackle the situation and bring back the country to its feet. Thailand is such a wonderful place to live.
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| Bangkok Post article on Sunday, 16-10 |
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| The Nation stresses the ties with Japan. |
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| More shops selling black clothes. |
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