The new legislation did place Thailand on an international footing. But the Chuan Government paid a price for doing so. All politics is ultimately local and about local interests. There was an inability of the last government to explain why the legislation was in the best interest of the country in the long run. The same applies to economic reform with so many vested interests at stake and so many of the people whose interest in stake running the show.
Most people don t have the patience to wait for something good to come out of long, tiring labor.
They often lack faith anything good will happen down the road. They want something in their hand now. Q. 10 Thailand prior to 1998 was known to have little legal protections for lenders in the event a business became over extended. One of the achievements of the recent Chuan government was passage of a new bankruptcy law. The Bankruptcy Law was an achievement that built confidence for investors.