“The Banana Cannot Have The Tax!”
Monday, July 28th, 2008
The Economics of Thailand
Karl Williams
A conundrum wrapped in a paradox is perhaps the best way to describe Thailand, and its economic system is no exception as our rolling travelogue will illustrate. To pick apart this puzzle, I had the assistance of the only two geoists in Thailand, who were also my gracious hosts in Bangkok – retired vice-admiral Suthon Hinjiranan and his son Pop, who has a PhD in town planning. Suthon recently translated “Progress and Poverty” into Thai and is battling alone against a tsunami of cashed-up property developers but, like a true Cat-Seer, agrees that “everything else is a waste of time”.
Firstly, a few basic facts on Thailand: population – 62 million (32% in urban areas); life expectancy – 70 years; GDP per capita – US$9000; ethnicities – 75% Thai, 14% Chinese and 11% other; religion – 95% Buddhist; literacy – 94%; economic system – speculation-fueled neo-classicism tempered by traditional cultural values. But let’s dig deeper to unearth how the vast proportion of Thais earn a paltry A$4 or $5, alongside an obscene number of brand new urban assault vehicles (4WDs) cruising the streets?
Why are there sparkling new skyscrapers and shopping malls alongside sprawling urban slums and vacant land?
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