e Economy of Thailand and United Kingdom
The economy of Thailand is a developing economy which heavily depends on exports. It has improved significantly since the 23rd prime minister of Thailand and businessman, Thaksin, took office in the year 2001 as he aimed at increasing domestic activities and reducing the country’s reliance on foreign trade and investment (Phongpaichit & Baker, 2004). His administration introduced a dual truck economic policy which combined increased domestic activity with the country’s traditional preferment of open markets and foreign investment. Exports account for more than two-thirds of Gross Domestic Product (Raquiza, 2013).
Thailand currently has a gross domestic product that is worth 8.5 trillion Bart based on the basis of the purchasing power parity (Raquiza, 2013). This has led to its classification as the second largest in Southeast Asia after Indonesia. Despite this ranking, Thailand is still midway in the spread of its wealth since it is classified as the fourth richest nation on the basis of gross domestic product per capita after Singapore, Brunei and Malaysia respectively. The high gross domestic product in the Southeast Asia region has made it to become an anchor economy to its neighboring developing nations such as Burma, Cambodia, and Laos (Raquiza, 2013).
Exports in …show more content…
Its population is dominated by the English, who constitute more than 80% of the population (Tobin, 2004). Scots constitute about 10% whereas the Welsh and Northern Irish constitute the rest. The economy of the United Kingdom is one of the largest in the European Union. It is more inclined to the provision of services even though the industrial capacity in high-tech technology and other sectors also contribute a lot to the economy. The city of London in the United Kingdom is considered to a leading city in the provision of financial services in the world (Clark,
The economy of Thailand is a developing economy which heavily depends on exports. It has improved significantly since the 23rd prime minister of Thailand and businessman, Thaksin, took office in the year 2001 as he aimed at increasing domestic activities and reducing the country’s reliance on foreign trade and investment (Phongpaichit & Baker, 2004). His administration introduced a dual truck economic policy which combined increased domestic activity with the country’s traditional preferment of open markets and foreign investment. Exports account for more than two-thirds of Gross Domestic Product (Raquiza, 2013).
Thailand currently has a gross domestic product that is worth 8.5 trillion Bart based on the basis of the purchasing power parity (Raquiza, 2013). This has led to its classification as the second largest in Southeast Asia after Indonesia. Despite this ranking, Thailand is still midway in the spread of its wealth since it is classified as the fourth richest nation on the basis of gross domestic product per capita after Singapore, Brunei and Malaysia respectively. The high gross domestic product in the Southeast Asia region has made it to become an anchor economy to its neighboring developing nations such as Burma, Cambodia, and Laos (Raquiza, 2013).
Exports in …show more content…
Its population is dominated by the English, who constitute more than 80% of the population (Tobin, 2004). Scots constitute about 10% whereas the Welsh and Northern Irish constitute the rest. The economy of the United Kingdom is one of the largest in the European Union. It is more inclined to the provision of services even though the industrial capacity in high-tech technology and other sectors also contribute a lot to the economy. The city of London in the United Kingdom is considered to a leading city in the provision of financial services in the world (Clark,