All is not well in the Kingdom of Thailand

The former billionaire prime minister was largely despised by Bangkok’s sophisticated elite, but retains wide support in country areas where his populist style struck chords with the rural poor. The fact that even in exile he seems to command sufficient resources to complete the multi-million dollar purchase of English Premiership football club Manchester City has done his reputation no harm among his supporters.

Thaksin loyalists are also outraged by the Thai government’s determination to pursue his financial dealings, and by its banning of his Thai Rak Thai political party which opponents claim makes a farce of voting in the referendum. Last month, demonstrations against the government turned violent with injuries both to protesters and police.

Even if Thaksin and Thai Rak Thai are permanently removed from the political scene - and that is by no means certain - the government still has to tackle the economic confusion caused by Thailand’s currency, the baht, which continues to appreciate despite the central bank cutting interest rates on five occasions this year.

In a country dependent on cheap exports for its prosperity, the issue is increasingly sensitive and the laying off of 5,000 workers from a textile factory which makes sports clothing for Nike and Adidas prompted furious street protests which ended only when the workers were re-hired after the company was bailed out by the Thai Garment Manufacturing Association.

But perhaps the most ominous development is the criticism, as yet still anonymous and muted, of the role of the Head of State, King Bhumibol Adulyadej Rama IX, in last year’s coup.

The king is the world’s longest-serving monarch and a revered father figure, his picture is everywhere and the 60th anniversary of his succession to the throne last year was the occasion for lavish celebrations. In the past he has been a unifying influence, none more so than his intervention in a 1992 conflict which halted bloody street battles and probably averted a civil war.

However one commentator, who for obvious reasons did not want to be named, said the king had made a mistake in backing the junta against Thaksin’s democratically elected government.

“You have to remember he’s almost 80 now and may not have such a tight grip on affairs as he once did,” the commentator said. “In the past he’s been a pillar of stability and without him this country could easily have descended into chaos years ago.

“But times have changed and we cannot go on calling on the military to mount a coup every time we have a government that some people don’t like. It’s not doing our reputation any good in the modern world and the generals, the politicians and yes, the king himself, have got to come to terms with that.”