Over View Of Thailand Essay

2334 words - 9 pages

SOCIOCULTURALA unified Thai Kingdom was in the mid-14th century. Known as Siam until 1939, Thailand is the only Southwest Asian country never to have been taken over by a European power. A bloodless revolution in 1932 led to a constitutional monarchy. In alliance with Japan during World War2, Thailand ally following the conflict.GEOGRAPHYClimate: Tropical; rainy, warm, cloudy southwest monsoon (mid May to September); dry, cool northeast monsoon (November to mid-March); southern isthmus always hot and humid.Natural resources: Tin, rubber, natural gas, tungsten, tantalum, timber, lead, fish, gypsum, lignite, fluorite, arable landLand use: Arable land 32.88%, permanent crops 7%, other 60.12%Geography note: Controls only land route from Asia to Malaysia and SingaporePEOPLEPopulation 64,865,523 (July 2004)Population growth rate 0.91% (2004)Languages Thai, English ( secondary language of the elite ), ethnic and regional dialectsGOVERNMENTGovernment type Constitutional monarchyLegal system Based on civil law system, with influence of common law; has not accepted compulsory ICJ jurisdictionECONOMYThailand has a free-enterprise economy and welcomes foreign investment. Exports feature textiles and footwear, fishery products, rice, rubber, jewelry, automobiles, computers and electrical appliances. Thailand has recovered from the 1997-98 Asian Financial Crisis and was one of East Asia's best performers in 2002. Increased consumption and investment spending and strong export growth pushed GDP growth up to 6.3% in 2003 despite a sluggish global economy. The highly popular government has pushed an expansionist policy, including major support of village economic development.Economics growthNowadays many countries use GDP growth to measure their economics growth. Gross domestic product (GDP) is value of all final goods and services produced within a nation in a given year. As explained before that Thailand was hit by regional crisis in 1997-98, the crisis caused the fluxtuation of Thailand GDP as shown in the Table 1 and Graph 1 below :Table 1. Thailand GDP growth (%) from 1994-2003GDP (%)1994 1995 1996 1997 1998 1999 2000 2001 2002 2003Thailand 9.0 8.9 5.9 -1.7 -10.2 4.2 4.8 2.1 5.4 6.7Sources : www.adb.org, www.cia.gov modifiedGraph 1. Thailand GDP growth (%) from 1994-2003Sources : www.adb.org, www.cia.gov modifiedFrom the table. 1 and the graph. 1 we can see that Thailand's GDP Growth dropped dramatically in 1997-1998 caused by regional monetary crisis which hit most of Asian nations, but it rebounded successfully in 1999-2003. This shows that overall economics situation in Thailand is already getting better in term of GDP growth.Inflation RateInflation rate (consumer price index) means the annual percent change in consumer prices compared with the previous year's consumer prices. This indicator informs us how the change in price level is in a country. One of the economics goals is to keep the inflation stable. So if the rate is much higher than the previous...

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