Somkid Jatusripitak facts for kids
Quick facts for kids
Somkid Jatusripitak
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สมคิด จาตุศรีพิทักษ์
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Somkid Jatusripitak in 2006
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| Deputy Prime Minister of Thailand | |
| In office 20 August 2015 – 14 July 2020 |
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| Prime Minister | Prayut Chan-o-cha |
| In office 11 March 2005 – 19 September 2006 |
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| Prime Minister | Thaksin Shinawatra |
| In office 8 February 2003 – 10 March 2004 |
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| Prime Minister | Thaksin Shinawatra |
| In office 9 October 2001 – 3 October 2002 |
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| Prime Minister | Thaksin Shinawatra |
| Minister of Finance | |
| In office 10 March 2004 – 2 August 2005 |
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| Prime Minister | Thaksin Shinawatra |
| Preceded by | Suchart Chaovisith |
| Succeeded by | Thanong Bidaya |
| In office 17 February 2001 – 8 February 2003 |
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| Prime Minister | Thaksin Shinawatra |
| Preceded by | Tarrin Nimmanahaeminda |
| Succeeded by | Suchart Chaovisith |
| Minister of Commerce | |
| In office 3 August 2005 – 19 September 2006 |
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| Prime Minister | Thaksin Shinawatra |
| Preceded by | Thanong Bidaya |
| Succeeded by | Krirk-krai Jirapaet |
| Personal details | |
| Born | 15 July 1953 Bangkok, Thailand |
| Political party | Sang Anakot Thai (2022-present) |
| Other political affiliations |
Thai Rak Thai (1998-2007) Chart Pattana (2007-2011) Palang Pracharath (2018-2020) |
| Spouse | Aruratchani Jatusripitak |
| Alma mater | |
| Profession | |
| Signature |  |
Somkid Jatusripitak (born 15 July 1953) is a well-known Thai economist and politician. He is known for his ideas about business and how countries can grow their economies.
Somkid was a student of Philip Kotler, a famous marketing expert. He wrote books about how countries and businesses can be more competitive. He also taught marketing at universities in Thailand. He helped start the Thai Rak Thai Party (TRT) and created many of their economic and social plans. After the party won elections, he served as Deputy Prime Minister, Minister of Finance, and Minister of Commerce.
After a military takeover in 2006, he was chosen to promote a special economic plan called "self-sufficiency." This plan was supported by the King. Because he was a leader in the Thai Rak Thai Party, he was not allowed to be involved in politics for five years after the 2006 takeover.
After another military takeover in 2014, he became an advisor to the government on economic matters, especially with countries like China and Japan. He also became a member of the National Council for Peace and Order, which was the group that took over the government.
Contents
Early Life and Family
Somkid was born in Bangkok's Chinatown, a busy area in Thailand's capital. He grew up in a large family with nine brothers and sisters. His family had Chinese roots; his great-great-grandfather moved to Thailand from China a long time ago.
One of his older brothers, Som Jatusripitak, also became an important person in finance and government. He was the president of Siam City Bank and later served as Commerce Minister.
Education and Academic Career
Somkid went to Triam Udom Suksa School. He earned his first degree in Economics from Thammasat University in 1972. He then got a master's degree in Finance from the National Institute of Development Administration (NIDA). Later, he earned a Ph.D. in marketing from the Kellogg School of Management at Northwestern University in the United States.
After finishing his studies, Somkid became a professor at NIDA Business School. He taught marketing and also served as an Associate Dean. His ideas were greatly influenced by Michael Porter's work on how countries become competitive. Somkid focused his research on helping nations and businesses improve their standing.
He also supported the idea of "Nation Branding" with his mentor, Philip Kotler. This idea is about how countries can use marketing to improve their image and economy. In 1997, they wrote a book together called "The Marketing of Nations." This book explained how countries could become more competitive through smart marketing and good policies. Somkid also wrote a book called Borisat Prathet Thai (meaning "Thailand Inc."), which suggested that Thailand should use marketing to boost its own competitiveness.
Career in Business
Somkid helped start the Manager Media Group, a media company. He also played a role in setting up the Phatra Research Institute. He became a director at Saha Pattanapibul Group, a large company that makes consumer goods in Thailand.
He also advised the Stock Exchange of Thailand and was a director for PTTEP and the Petroleum Authority of Thailand. In 2012, Somkid started the Thailand Future Study Institute. This group is supported by big Thai businesses and works to provide research and advice to both government and private companies.
Political Career
Somkid's political journey began when he served as a secretary to the Foreign Minister in 1995–96. He was also a secretary to the Finance Minister from 1996–97.
Founding Thai Rak Thai
In 1998, Somkid was one of the people who helped create the Thai Rak Thai party. He worked closely with the party leader, Thaksin Shinawatra. Somkid was very important in developing the party's economic and social plans. These plans were popular with many people in Thailand.
He was seen as the main person behind "Thaksinomics," which were the economic policies of the Thaksin government. These policies helped the Thai Rak Thai party win a big election victory in 2001. The party focused on helping ordinary people.
Somkid's key ideas included a healthcare program for everyone and giving money to each of Thailand's 70,000 villages for development. He also suggested freezing loan payments for farmers for three years. Another idea was to sell off some government-owned businesses and create a special company to manage bad debts from banks.
He also started the idea of supporting small and medium businesses in rural areas. Since farming was very important in Thailand, he wanted to connect the farming sector with the modern economy. This idea led to the popular One Tambon One Product (OTOP) program, which helps villages create and sell their own unique products.
Roles in Government
After the Thai Rak Thai party won the election in 2001, Somkid became a key member of Thaksin's economic team. He served as Finance Minister from February 2001 to February 2003. Later, he became Commerce Minister from August 2005 to September 2006.
As Finance Minister, Somkid helped reorganize Thai Airways International, the national airline. He also helped set up the national asset management corporation (AMC). He supported changes to the Thai Petrochemical Industry (TPI). In 2002, he started the village fund program. This program gave each of Thailand's 70,000 villages a fund of about US$25,000 to use for local projects.
As Commerce Minister, he helped the tourism industry recover in the Andaman coast after the 2004 tsunami. He also worked to increase trade and investment with the United Kingdom. He encouraged more investment in important industries like electronics and petrochemicals.
During protests against Thaksin's government in 2005-2006, Thaksin mentioned Somkid as one of the people who could become Prime Minister if he stepped down. Many business people also thought Somkid would be a good choice for the next leader.
After the 2006 Military Takeover
The Thai military took control of the government on 19 September 2006. At that time, Somkid was in Paris. He returned to Bangkok a few days later. Unlike some other government officials, he was not arrested. On 2 October 2006, he resigned from the Thai Rak Thai Party.
In February 2007, he was asked to lead a government committee. This committee was tasked with promoting the King's "self-sufficient economy" policy. However, this appointment caused some debate, and Somkid later resigned from the committee.
In May 2007, a group of former senators wanted to support Somkid in forming a new political party. However, on 30 May 2007, a court ruled that 111 former leaders of the Thai Rak Thai Party, including Somkid, could not hold political office for five years.
After the 2014 Military Takeover
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After another military takeover on 22 May 2014, the new government, called the National Council for Peace and Order (NCPO), appointed Somkid to their advisory board. His role was to advise on economic relations with other countries, especially China and Japan. On 16 September, Somkid became a full member of the NCPO.
After leaving the government in 2020, Somkid joined a new political party called Sang Anakot Thai (Building Thailand's Future). He agreed to be their candidate for Prime Minister if the party won enough seats in the 2023 general election.
Personal Life
In March 2006, Somkid had a medical procedure to help with a blood clot near his heart.
His wife, Anurachanee Jatusripitak, is a teacher at Chulalongkorn University. They have three children together.
Selected Works
- The Marketing of Nations: A Strategic Approach to Building National Wealth (co-authored with Philip Kotler, 1997)
- Borisat Prathet Thai ("Thailand Inc: Concepts and Strategy")
See also
In Spanish: Somkid Jatusripitak para niños
