In2023,thereweremanychangesinThailand'spoliticalsituationandsocio-economiclandscape.TheparliamentarylowerhouseelectionsinMayalteredthecountry'spoliticalstructure.InAugust,Setawaselectedasthe30thPrimeMinisterinaparliamentaryvote.Facedwitheconomicdevelopmentslowingdown,thenewgovernment,ledbythePhatThaiParty,proposedseveraleconomicstimulusmeasuresandadoptedamorepragmaticapproachinforeignaffairs.Atthebeginningof2023,astheworldemergedfromtheshadowsoftheCOVID-19pandemic,Thailandhadhighhopesforitseconomicdevelopment.However,duetotheglobaleconomicdownturn,thecountry'seconomicgrowthwasslow.Thetourismsector,contributing11.5%toThailand'sGDP,experiencedadecline,with24.5milliontouristarrivalsin2023,significantlylowerthanthe39.8millionin2019.FromMaytotheendofAugust,theextendedperiodofgovernmentformationaftertheelectionsledtoseveralmonthsofgovernancevacuum,impactingtheeconomy.Theannualgovernmentbudgetwasdelayed,hinderinggovernmentinvestmentsandcausingasharpdeclineincurrencycirculation.Thailand'shouseholddebtreachedahistorichigh,andsmallandmediumenterprisesfaceddifficulties,requiringadditionalfunds.Facingthechallengeof"lowgrowth,highdebt,"Thailand'seconomicgrowthin2023wasweak.Theeconomicgrowthforecastforthisyearwasreviseddownto2.5%,witharangeof2.7%to3.7%expectedin2024.Setacandidlystated,"Thailand'sthird-quarterGDPgrowthis1.5%,thesituationisverybad,andwearestrivingforinvestmentsfromaroundtheworld."ConfrontingtheeconomicstrugglecomparedtoneighboringSoutheastAsiancountries,thePhatThaigovernmentproposedvariouseconomicstimulusmeasures,focusingonstimulatingconsumption,addressingthecostoflivingcrisis,andattractingforeigninvestment.Toboostconsumptionandmarketvitality,Setamentionedthepossibilityofimplementingaplantodistributedigitalwalletstomiddleandlow-incomeThaicitizensstartinginMaynextyear.Theplanwouldprovidea10,000ThaiBahtconsumptionsubsidytoadultswithamonthlyincomebelow70,000ThaiBaht,injecting500billionThaiBahtintotheeconomy.Thelatestreferendumresultsindicatethat70%ofThaipeopleapproveofthisplan.However,itstillrequiresmoreroundsofparliamentarydebateandseveralmonthstobeofficiallyapproved.Theimplementationprocessmaystillposepoliticalrisks,affectingthestabilityoftheSetagovernment.DespitetheeconomicchallengesinThailandthisyear,withasolidandstableeconomicfoundation,thecountry'seconomymayaccelerateitsrecoveryin2024comparedto2023.Therevivalofthetourismindustryisacrucialsupportingfactor,andThailand'sexportsectorisalsoexpectedtoresumepositivegrowth.Intermsofdiplomacy,Thailandfacedchallengesin2023duetodomesticpoliticalrestructuringandfrequentglobalgeopoliticalconflicts.Asthesecond-largesteconomyinSoutheastAsia,Thailandhastraditionallypursuedabalanced"bamboo"diplomacy,actingasabalancerinregionalpowerstruggles.SinceSeta'sgovernmenttookofficeofficiallyinSeptember,itactivelypursuedadiplomacythatprioritizespracticaleconomicbenefits.ThisincludedattractingforeigninvestmentfrommajorcountriessuchasChinaandtheUnitedStates,aswellasstrengtheningconnectivityandeconomiccooperationwithneighboringSoutheastAsiancountries.SetaseeshimselfasThailand's"salesman"and,withinthreemonthsoftakingoffice,visitedmajorpowerssuchasChina,theUnitedStates,andJapan.AfterattendingthethirdBeltandRoadInternationalCooperationSummitForuminBeijinginOctober,SetawenttotheUnitedStatesinNovembertoparticipateinthe30thAPECLeaders'InformalMeeting.Hesecuredinvestmentcommitmentsof300billionThaiBahtfromthreemajorUStechnologycompanies—Amazon,Google,andMicrosoft—andreachedpreliminaryagreementswithcutting-edgetechnologycompaniessuchasTesla.InDecember,SetavisitedJapantoattendtheJapan-ASEANSpecialSummit,promotingroadandbridgeprojects.FourJapaneseautomotivecompaniespledgedtoexpandelectricvehicleproductioninThailand,withatotalinvestmentofabout150billionThaiBaht.However,Thailand'sdiplomacyalsohadtoaddresssecurityissuesarisingfromgeopoliticalconflicts.TheIsrael-PalestineconflictbroughtunwarrantedharmtoThaiworkersinconflictareas,with39Thainationalskilledinattacks,and32takenhostageintheGazaStrip.DespiteThailand'seffortstorescuethem,nineindividualsarestillheldashostages.Additionally,thesituationinMyanmarsignificantlyaffectedthesecurityalongtheThai-Myanmarborder,withalargenumberofMyanmarrefugeesstrandedattheborder,andsomeevenenteringThaiterritory.Sino-Thairelationshavebeenalong-standingfocusofThaidiplomacy.In2022,leadersofChinaandThailandreachedimportantconsensusonbuildingamorestable,prosperous,andsustainableChina-Thailandcommunitywithasharedfuture.DuringSeta'svisittoChinathisyear,hehadin-depthdiscussionswithChineseleadersoncooperationinvariousfields,reachingbroadconsensus.ChinaandThailandtrusteachotherpolitically,andthereiscloseinteractionatalllevels,withcomprehensiveexchangesstrengthening.BothcountriesareacceleratingthedevelopmentoftheChina-Laos-Thailandconnectivityconcept,deepeningcooperationinareassuchasconnectivity,trade,andtourism,maintainingastableandsmoothproduction-supplychainsystem,andcooperatingontransnationalcrimessuchascombatingonlinegamblingandhumantrafficking.ThishaspromotedcontinuousnewdevelopmentsintheChina-Thailandcomprehensivestrategicpartnership.Editor:DisclaimerTheviewsandopinionsexpressedinthisarticlearethoseoftheauthor's,GMW.cnmakesnorepresentationsastoaccuracy,suitability,orvalidityofanyinformationonthissiteandwillnotbeliableforanyerrors,omissions,ordelaysinthisinformation.