Thailand at the Frontier of Upper Middle Income

Srisangnam, Piti

doi:10.1007/978-3-030-19722-3_4

Piti Srisangnam²

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Abstract

Thailand is a constitutional monarchy located at the centre between mainland and maritime ASEAN nations and also located at the heart of Indo-Pacific Region. In 2017, Thai economy was the world’s 20th largest by GDP at PPP. Inward foreign direct investment made Thailand experience the world’s highest economic growth rate from 1985 to 1996. It became a newly industrialized country and a major exporter in the 1990s before it collapsed as a result of the 1997 Asian financial crisis. Since then Thailand re-positioned itself to be a more proactive player in deepening and widening the ASEAN regional integration process. Thanks to Thailand’s geographical location advantages, the ASEAN Economics Community (AEC) has started to drive Thai economy as a new growth engine since 2010s.

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Notes

1.
Sanitary and phytosanitary (SPS) measures are measures to protect humans, animals, and plants from diseases, pests, or contaminants.
2.
A trade facilitation is a simplification and harmonization of international trade procedures.

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Piti Srisangnam

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Srisangnam, P. (2019). Thailand at the Frontier of Upper Middle Income. In: Macdonald, R. (eds) Southeast Asia and the ASEAN Economic Community. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-19722-3_4

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DOI: https://doi.org/10.1007/978-3-030-19722-3_4
Published: 04 September 2019
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