At a meeting with business leaders in New York, he was introduced by none other than global investor George Soros, the man sometimes accused of sparking Asia's crisis and emptying Thailand's foreign reserves last year with his raids on the baht. The audience cheered when the prime minister promised to stick with the International Monetary Fund's tough rehabilitation program. Later, Chuan lunched with President Bill Clinton. Not that Thailand has bounced back. The country remains mired in a severe banking crisis.
Interest rates are high and near-term growth prospects are low.
Thailand illustrates the crucial importance of effective and responsible leadership amid the crisis. The key is Bangkok's firm commitment to economic and political reform. The PM heads a coalition government with a thin parliamentary majority. Any of its partners could topple it by withdrawing its support. And Chuan faces an imminent no-confidence motion from the opposition.