Globalization and Thailand

Category: Globalization

Pryscilla Bolander
Adriana Cervantes
Theresa Carrillo




Over the last ten years Thailand has been recovering from the 1997 Asian financial crisis. Their economy grew by increased consumption and strong export growth. Unfortunately, the devastating 2004 tsunami in Thailand created more economic problems. The military coup brought in a new economic team to try and resolve the issue but Thai Board of Investment reported the value of investment applications from January to November had declined by 27% year-on-year. Luckily export levels have increased by nearly 17%.
During the last decade Thailand has demonstrated a 8 percent GPD growth rate.
Roughly 40% of Thailand's labor force is employed in agriculture. Rice is the country's most important crop; Thailand is the largest exporter in the world rice market. The labor force continues to be weak. 2% of the workers are not unioinized.

In December,Thailand's inflation hit an all time low.
Their target inflation rate is from 0-3.5%