Thai economy is a disaster in slow motion

William Pesek is an award-winning Tokyo-based journalist and author of “Japanization: What the World Can Learn from Japan’s Lost Decades.”

Discussions about lost-decade candidates in Asia tend to find their way to Bangkok these days, and for good reason.

Yes, Southeast Asia’s second-biggest economy is finding its footing despite the trade war and COVID-19 slamming global demand. Teflon Thailand is seen growing as much as 4% in 2021 — numbers that officials from Tokyo to Washington can only dream about.

Yet the real focus must be on 2031. What, let us be honest, is General-turned-Prime Minister Prayuth Chan-o-cha doing to ensure living standards do not continue grinding lower over the next 10 years? Virtually nothing.

This is a disaster in slow motion, considering how little leaders in Bangkok did over the last 10 years to build a more vibrant and inclusive growth model. And the result…