Tags: Political Party.
The New Aspiration Party (Phak Khwam Wang Mai Thai: พรรคความหวังใหม่) is a political party in Thailand. The party was established in 1990 by General Chavalit Yongchaiyudh after his retirement as Commander-In-Chief of the Royal Thai Army. This party won the elections of 1996 and formed a coalition government with Chavalit as Prime Minister. The onset of the Asian Financial Crisis in 1997 diminished the electorate’s confidence in the government and Chavalit was forced to resign.