The Economic Consequences Of Globalization On Thailand

This book explores the impact of globalization, especially in the context of trade and investment policies, on the key economic outcomes, including innovation, productivity, employment, and wages, using Thai manufacturing as a case study. The book looks at the impacts of the shift of manufacturing share from industrialized to emerging countries and emergence of ‘global value chains’ (GVCs) as well as liberalization through the proliferation of free-trade agreements (FTAs) on key economic outcomes. The book highlights that globalization, through trade (including the parts and components trade) and investment, continues in Thailand amid the anti-globalization sentiment since the onset of the new millennium, especially the US–China trade war and the COVID-19 pandemic. Thailand has gained considerable benefit from trade and investment liberalization in various forms, including innovation, firm productivity improvements, and workers’ skills enhancement. Although the country has prospered in these areas, several further enhancements are needed in order to effectively harness the benefits available from globalization, including continued trade and investment policy reforms. Key policy inferences are provided in the last chapter. The book will appeal to those with an interest in international economics, especially issues relating to the economic consequences of globalization. It will also appeal to policymakers and practitioners responsible for international trade and investment regulations.

First Published in 2012. Routledge is an imprint of Taylor & Francis, an informa company.

Given the rising criticisms of and growing doubts about globalisation, this timely edited volume looks at globalisation and its economic impact on eight countries in Asia and the Pacific region, namely Australia, China, Indonesia, Japan, Malaysia, Thailand, the United States (US), and Vietnam. The eight selected countries are members of the Asia-Pacific Economic Cooperation (APEC) forum and yet the economies of these member countries have benefited differently from globalisation. This book summarises findings from existing academic literature in a coherent framework and reviews them critically to provide a balanced analysis. It also identifies the mechanisms through which globalisation impacts economies and explains how understanding of such mechanisms can be useful for formulating policies, which would benefit from globalisation while achieving inclusive economic growth in the context of rising nationalism and protectionism. The Open Access version of this book, available at http://www.taylorfrancis.com/books/10.4324/9781003138501, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

'Professor Krongkaew is one of Thailands best known academic economists, and he has brought together an impressive number of authorities on the modern Thai economy. The resulting book should be of great value to anyone wanting an authoritative and comprehensive overview of recent developments in one of Asias most dynamic economies.' - Anne Booth, School of Oriental and African Studies, University of London The book is divided into 4 parts. Part 1 gives an overview of Thai industrialization and the roles of agriculture, manufactured exports, direct foreign investment and tourism as major contributors to recent fast economic growth. Part 2 analyses the impact of industrialization on government finance, monetary policy, urbanisation, and household welfare. Part 3 further investigates impact on political development, social values, the environment, and education, health and science and technology. Part 4 looks at a future role of Thailand as a newly industrialized country in Asia.

'Professor Krongkaew is one of Thailands best known academic economists, and he has brought together an impressive number of authorities on the modern Thai economy. The resulting book should be of great value to anyone wanting an authoritative and comprehensive overview of recent developments in one of Asias most dynamic economies.' - Anne Booth, School of Oriental and African Studies, University of London The book is divided into 4 parts. Part 1 gives an overview of Thai industrialization and the roles of agriculture, manufactured exports, direct foreign investment and tourism as major contributors to recent fast economic growth. Part 2 analyses the impact of industrialization on government finance, monetary policy, urbanisation, and household welfare. Part 3 further investigates impact on political development, social values, the environment, and education, health and science and technology. Part 4 looks at a future role of Thailand as a newly industrialized country in Asia.

This powerful, unsettling book gives us a rare glimpse behind the closed doors of global financial institutions by the winner of the 2001 Nobel Prize in Economics. When it was first published, this national bestseller quickly became a touchstone in the globalization debate. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank. Particularly concerned with the plight of the developing nations, he became increasingly disillusioned as he saw the International Monetary Fund and other major institutions put the interests of Wall Street and the financial community ahead of the poorer nations. Those seeking to understand why globalization has engendered the hostility of protesters in Seattle and Genoa will find the reasons here. While this book includes no simple formula on how to make globalization work, Stiglitz provides a reform agenda that will provoke debate for years to come. Rarely do we get such an insider's analysis of the major institutions of globalization as in this penetrating book. With a new foreword for this paperback edition.

This book is open access under a CC BY-NC-ND license. Ambassadors are a kind of vehicle and bellwether for globalization. These diplomatic envoys serve as pivotal contact points between nations across a wide range of fields, from economics and culture to health and the environment. The special group of ambassadors in this book – those based in Beijing – are at the forefront of what for many countries is one of their most important bilateral relationships, as well one of the most striking and consequential aspects of global affairs in the 21st century: the rise of China on the world stage. This book aims to present an overview of China and the world from diverse angles. It brings together essays by ambassadors to China on a range of bilateral and multilateral issues, including trade and investment, regional economic cooperation, sustainable development, technology and innovation, and entrepreneurship. Given their familiarity with China and extensive international experience, the insights of these ambassadors are useful for policymakers, academics, entrepreneurs, students, and anyone trying to make sense of our rapidly changing world.

This volume looks at the origins and consequences of the accelerated growth of the Thai economy since the mid-1980s, and explores the factors that set Thailand apart from other Asian, African and Latin American countries.