The bloodless military coup of September 19, 2006 that ousted prime minister Thaksin Shinawatra after five eventful years in office looks set to reverberate for some time. As Thailand’s new rulers attempt to reconstitute its shaky democracy, investors are watching for signs of a smooth transition this year amid fears of further political bumps.
Given Thailand’s coup-littered political history, it should not have come as too much of a surprise to see tanks rolling on the streets of Bangkok. The decisive blow against Mr Thaksin, a former police colonel turned billionaire telecommunications magnate, ended several months of political fighting and policy paralysis. The military coup leaders justified their action by accusing Mr Thaksin of rampant corruption, incompetence and dividing society. An interim government appointed in October has begun investigating his assets for alleged graft.
