The sector sorely needs deregulating. Thailand needs a fee-based licensing system to bring telecoms in line with global norms. Thaksin did not win office just by promising breaks to business. The big question is whether Thaksin's proposed policies will work. Nor is his asset-management corporation a surefire way to get banks lending.
Many companies are too busy trying to restore their balance sheets to contemplate new loans.
Besides, ''the banks are still hunkering down after their disasters,'' says Ammar Siamwalla, senior economist at the Thailand Development Research Institute. Another question is whether Thaksin will be allowed to serve his term. The McGraw-Hill Companies Inc. All rights reserved.