If we don't institute structural reforms there will be no hope for us. Many say any recovery will be slow. According to former deputy PM Virabongsa Ramangkura, the economy will continue contracting as exports drop amid negative conditions in the global economy. Privatization, deregulation, liberalization and tax changes have been slow. If Thailand is to emerge stronger, these issues need to be tackled soon.
Implementation is a problem in every economy, Western or Asian.
The process has been painfully slow in Thailand but it is underway. They have done a lot more than they get credit for. Malaysia is still holding on to all its bad loans, just transferring them from one pocket to another. On the corporate side there is substantial genuine restructuring you won't see in other places. The Thais have had substantial bankruptcies, substantial loss of employment.