It's strategicallylocatedalongthebusiesttraderoutesintheworld, andit's become a surprisinglypopularcenterfor a newageoflaborthat's buckingthetrendofglobalmigration.
Nowfor a developingandindustrializingeconomythismaynotsoundtoosurprising, howeverthereare a lotofeconomiesintheworldtodaythatshouldbehighlysuccessfulbecauseofendowmentsinnaturalresources, largelaborforces, greatgeographicpositions, orjustbecausetheyhavemajorindustriesthatstillaren't.
When I'm indeepfocusmodedivingintothecomplexitiesofglobaleconomieslikeThailand I sometimesforgetabouteasybutcrucialthingslikedrinkingenoughwaterthroughoutthedaytostayhydrated.
Asidefrom a fewlittleinvasionshereandtherethecountryistheonlysoutheastAsianterritorytoavoiddirectcolonialrule.
あちこちの小さな侵略を除けば、この国は東南アジアで唯一、直接的な植民地支配を免れている。
Moreover, whileactingas a zoneseparatingFrenchandBritishcoloniesitmanagedtoactas a hubfortradeandaftertheopeningoftheSuezcanalThailandbecametheprimaryexporterofriceintheregion, a trendthatcontinuestothisveryday.
Althoughthismayappeartobe a profitableseriesofeventsforboththeleadershipandthepeopleofThailand, it's economicprosperitywasoftenseparatedfromthepublicbytechnocratsmanagingthebulkofexchangesasitcontinuedtoindustrialise.
Domesticbenefitswerenotyetrealisedandthiscontinuedtobe a trendfordecades.
国内での利益はまだ実現されておらず、この傾向は何十年も続いた。
InfactThailand's economyasitexiststodayreallygotstartedinthemid-1980s whentheplazaaccordpre-sharedtheUSdollaragainstthecurrencyoftheUK, France, WestGermanyandespeciallyJapan.
TheChinesemarketwasstilljustopeningup, soJapanstartedlookingatthestrategictradeadvantageThailandheldatthecrossroadsoftheSouthChinaSeaandtheMalaccaStrait, a channelprimeforshippingbetweentheIndianandPacificOceans.
Thiscouldnothavecomeat a bettertimeasThailandhadbeenmakinganefforttoderegulateindustriesandopenitsdoorstomoreforeigninvestment, whichplayed a massiveroleinenticingJapanesefirmstomaketheleapandplantfactoriesandoperationsinthecountry, traininguptheworkforcetochangethemfromfarmerstofactoryworkers.
ThisalsopairedwellwithandencouragedThailandtomaketheleapfromagrarianself-sufficiencyto a modelofexportingthegoodsitcouldproducemostcompetitivelyandimportingwhateveritneededwiththemoneyitmadefromsellingthosegoods, leadingto a rangeofthoselong-awaiteddomesticbenefits.
Hemorrhagingcashaswellasinternationalfaith, Thailandhadnochoicebuttoraiseinterestrates, intheshortterm, by 25%.
現金と国際的な信用を流出させたタイは、短期的には金利を25%引き上げるしかなかった。
Nowintheory, whenthingsarerunningsmoothly, thisseemslike a powermove.
理論的には、物事が順調に進んでいるとき、これは力技のように思える。
Basicallyifonesees 10% interestratesitmightlooklike a goodinvestment, butifonesees 20% interestratesitstartstolooklike a desperateattempttogetmoneybyanymeansnecessary.
Thecountry's decisiontojointheInternationalMonetaryFund, orIMF, in 1949 turnedouttobefiscallyresponsibleaswell.
年に国際通貨基金(IMF)への加盟を決めたことも、財政的な責任を果たすことになった。
Afterpayingoffloans, theyweresubsequentlybailedout a strikingtwodecadesinadvanceofinitialprojections, andtheydidthisbyfocusingontherealeconomywithintheirborders, allwhileadding a highlevelofprudenceandgeneraldisciplinetotheirexport-ledeconomy.
Thisdevelopmentinparticularwasalmost a blessingindisguise, astheylearntearlythat a heavyrelianceonfinancialinstitutionsandspeculationwouldleavethemvulnerableiftheywereconfrontingsimilarcrises.
Additionally, asreferencedearlier, utilisingtheMalaccaStrait, Thailand's legendaryreputationforriceexportswas a godsend, andeventhatis a bitofanunderstatement.
AndgiventhelocationofThailand, closeto a largenumberofcountriesthatconsumericeas a mealtimestaple, dessert, andnecessity, therewasalwaysgoingtobe a largeconsumerbaseeagertopurchaseit, meaningthateventhoughitmaynotbethemostprofitableexport, itwasalwaysgoingtobeindemand.
Thecountryisverywelcomingandaccommodatingofforeignworkersandevenforeignerswhowanttosetuptheirownbusinessesinthecountryorbuy a home, butthereareseverelimitationsonthingslikepropertyownershipnotusedas a primaryresidence.
Thenomadsgetthepleasureofparticipatingin a growingmarket, whiletheThaipeoplegettofeedoffthelargestsliceofthepie.
遊牧民は成長市場に参加する喜びを得、タイ人はパイの最も大きな一切れを糧にする。
It's a methodthattheoreticallyprovidesuniversalbenefitstoall, andthiscouldbe a bigwinforThailandbecausethesepeoplebring a lotofmoneytothelocaleconomyandalsospreadtheirtechnicalknowledgeinsomethingbeingdubbedreversebraindrain.
Infactthecountryissousedtocoupsatthispointthatithasjustbecometheexpectation, andmostindustriesoperateinthecountrywiththeunderstandingthatif a newgovernmentwantstoseizepowertheycan't messthingsuptoobadly.
Therecalibrationofeconomicpowerisalmostinevitably a post-coupoutcome, goingrightbackto 1932.
経済力の再調整は、1932年までさかのぼると、クーデター後の結果であることがほとんど避けられない。
Thecoupswillmostlikelycontinuetooccur, butitbasicallyendsupbeinganisolatedfeudalskirmishfortheapprovalof a familytheyhavegenerationallydeemedtobesacredanduntouchable, effectivelyleavingforeignersandmostcitizenstoconductbusinessasusualtomaintainthestatusquo.
Startingasalwayswithsize, thecountryhas a GDPofjustoverhalf a trilliondollars, makingitthefourthlargesteconomyinAsia, behindonlyIndonesia, Japan, andofcourseChina.