Thailand: An Emerging Market Thomas Gollenberg

Political Background Known as Siam until 1939, it became a U.S. ally in 1959 after helping the U.S. in North Korea during the Cold War Since then it has had great economic growth, but since 2005 has also undergone significant political turmoil In 2006, Prime Minister Thaksin Chinnawat was ousted from power during a military coup, only to be replaced by his sister Yinglak in 2011 During this period many protesters were pardoned, however Thaksin was also granted amnesty from the political crimes he had committed, inciting more riots. This along with a rumored attempt on the Thai King Bhumibol Adulyadej’s life caused the Royal Thai army (NCPO)to take control of the government to quell the Chinnawat corruption. The country continues to exist under loose martial law governed by the National Council of Peace and Order.

Economic Data GDP (Millions $USD) 387,252, Ranked 30th in the World according to the IMF (2013), 6% growth according to the World Bank (2013).7% unemployment rate, Ranked 3rd in the World. Economy is strong compared to other southeastern asian coutnries 93.5% literacy rate Many Thai people have benefited from years of economic growth, however one quarter of the population lives below the international poverty line, usually agriculutural families.

Life above the poverty line Life above the poverty line for some Thai’s is extremely pleasant. Pictured to the right is my friend from exchange Fafay Pongpiriyapaiboon, who is part of the wealthy upper class of thailand She attends Stamford University of Thailand, and is both well educated and speaks fluent English. Her life experience is different than many in Thailand, featuring frequent late nights out in Bangkok and an expensice travel budget.

Women in Thailand An interesting concept in Thai culture is the changing role of women. Thailand is a relatively progressive country, and women are given opportunities in both education and work. However as many including Fafay will tell you, women are still very much expected to fulfill many household duties. Growing up Fafay was expected to learn how to cook, clean, keep a house and give massages, all under the expecation that she would one day use these skills to run a household and help her husband.

Below the Poverty Line One quarter of Thailand’s population lives below the international poverty line. 34% of the population lives in urban areas, yet 50% of the labor force is made up of agricultural workers and farmers Many of these farmers live in basic one room homes made of bamboo or wood with thatched roofs, offering little protection from monsoons or floods. They are also forced to use outdated farm equipment and techniques, sometimes harming the land and making it difficult to guarantee a steady cash flow

What is the Average Thai Life like? It varies greatly depending on location and social standing. 34% of the urban population lives comfortably for the most part, however recent political turmoil has made things uneasy. Life in the city for some families can be as if not more glamorous then our own in the USA. 50% of the labor force works in agriculture, in this case your life would most likely be spent in a thatched hut with few amenities. Working in back breaking conditions to make ends meet. One thing is clear, Thailand is an interesting developing country and an emerging world market, but the wealth disparity leads to a great difference in the quality of life from one Thai to another.

Q&A Any Questions? Sources factbook/geos/th.html _Profiles_-_Asia_Pacific/Thailand.pdf