The appointment of Gen Prayut Chan-o-cha as privy councillor has neatly bookended Thai politics over the past decade. It coincides with the 10-year anniversary of the street demonstrations that were led by the People's Democratic Reform Committee, paving the way for Gen Prayut to stage a military coup in May 2014. While the interim was a period of hard and soft military-authoritarian rule in 2014-19 and 2019-23, the new moving balance in Thai politics is a semi-democracy of sorts under the Pheu Thai Party-led coalition government.

To be sure, the big news about Gen Prayut's new status is a bang and a dud at the same time. Many are unsurprised and see it as par for the course, whereas others took note of his elevation from chief coup-maker and self-appointed prime minister to privy councillor. This loud news item has become the quiet talk of the town.

Thai-language social media is abuzz with observations that five of 30 Thai prime ministers to date have been appointed to the privy council, and seven of the current 19 privy councillors have derived from the May 2014 coup period.

But for Thailand, a second-best outcome as a semi-democracy is still far better than what it had to endure under Gen Prayut's near-decade at the helm when the Thai economy went nowhere while political repression went up. At last, Thailand has a civilian leader again who is pro-business with an awareness of and interest in how the world works, intent on getting the economy moving and restoring the country's international standing and regional role in Asean.

Mr Srettha still has a lot of convincing to do. Pheu Thai's growth strategy appears inchoate and piecemeal. Its signature 10,000-baht digital wallet scheme for some 50 million Thais to boost domestic consumption remains controversial and limited in its intended multiplier effects. Its planned "land bridge" in the southern region linking the Pacific and Indian oceans to attract commerce is headed by a cabinet minister who was embroiled in scandals from two decades ago, particularly the shady procurement of CTX scanners for Suvarnabhumi airport.