Thai stocks reverse gains as opposition parties secure strong majority in election
CNBCJUL 2023
This election only offered the illusion of democracy because the military-aligned establishment had already secured a third of the votes for the next prime minister long before the first ballot was cast. It had also already appointed all nine members of the Constitutional Court, which determines when parties are dissolved. The opposition may have won the vote, but it is unlikely that this reflection of popular support will enable them to appoint the next prime minister.
Though the pro-military Senate could indeed join forces with smaller parties to block a Make Forward-Pheu Thai coalition — and it is true that it has appointed judges that can disqualify candidates and parties — this election has shown such strong popular support for the opposition camp that it is very unlikely that the establishment will scheme such chicaneries.