A golden opportunity to push the US agenda opened up with the - TopicsExpress

A golden opportunity to push the US agenda opened up with the financial crisis, and Washington did not hesitate to exploit it to the hilt, advancing its interests behind the banner of free-market reform. The rollback of protectionism and activist state intervention was incorporated into stabilization programs imposed by the IMF on the key crisis countries of Indonesia, Thailand, and South Korea. In Thailand, local authorities agreed to remove all limitations on foreign ownership of Thai financial firms, accelerate the privatization of state enterprises, and revise bankruptcy laws along lines demanded by the countrys foreign creditors. As the US Trade Representative told Congress, the Thai governments commitments to restructure public enterprises and accelerate privatization of certain key sectors-including energy, transportation, utilities, and communications-which will enhance market-driven competition and deregulation-[are expected] to create new business opportunities for US firms.22

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