Thailand_capitalism

Thailand_capitalism - Thailand's capitalism Capitalism The...

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Thailand’s capitalism
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Capitalism? ± The process of economic change which has taken place within a relatively free enterprise system ± Industrialisation has been an important part of this process ± Producers separated from their products as they become waged workers ± Conceptualising these elements as a system is important ± “Globalisation”
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hailand Thailand ± Thailand’s economic performance from 1957 to 1996 was unique ± Thailand’s capitalist transition has not matched the history of Anglo-American development
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Early development ± Thai society & economy was dynamic ± 1855 Bowring Treaty meant free(r) trade on the West’s terms ± Wealth and power from control of labour, land and trade ± Monarchy kept control of government with a highly personalised tate state ± Chinese became an important part of the changes as workers, tax farmers and business leaders.
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After 1932 • The overthrow established new economic and political ways. The verthrow of the monarchy’s accumulation regime was an overthrow of the monarchy s accumulation regime was an important step toward a modern economic system. • Second World War: much destruction of infrastructure • 1947-57: military control and a haphazard state-led approach to industrialisation ureaucratic polity (Riggs 1966) Bureaucratic polity (Riggs, 1966) • 1957-58: General Sarit Thanarat
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Import substitution industrialisation (ISI) ± World Bank support - Substantial investment in manufacturing. - Local business got room to invest, free of state competition. - Budding industrialists were granted the tariff protection. - Foreign manufacturers wanted protective barriers.
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This note was uploaded on 03/20/2008 for the course ASIA 460 taught by Professor Hewison during the Fall '08 term at UNC.

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Thailand_capitalism - Thailand's capitalism Capitalism The...

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