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A Bangkok sky train (file pic) |
With a population of about 65 million, the country’s religion, the monarchy and the military helped to shape its society. For many years, agriculture was the main employer but a rapidly-growing economy attracted a huge number of Thais to the expanding industrial and services sectors in the 80s.
However, when the unfortunate 1997 south-east Asian financial crisis struck, stock and property prices plunged, dragging down the currency, leading to bankruptcies, recession and severe unemployment. This caused many Thais to harbour a deep distrust for international finance.
Though its recent governments have been civilian and democratically-elected, Thailand has been hit with a series of coups, coup attempts and popular protests. Led by army commander-in-chief General Sonthi Boonyaratglin, the military seized power in a bloodless coup in 2006, when Thaksin Shinawatra, the prime minister was attending the UN General Assembly. The coup was condemned abroad but the new leadership was endorsed by the king, Bhumibol Adulyadej. Calling themselves the Council for National Security, the coup leaders promised to restore unity in the nation after months of political turmoil and pledged to return the country to civilian rule. Voters approved a new constitution in a referendum in August 2007. Retired General Surayud Chulanont was appointed as interim prime minister and will govern until elections, due before the end of 2007.
Thailand exports over US$105 billion worth of products annually and its major exports include rice, textiles and footwear, jewellery, automobiles, computer and electrical appliances. The country is the world’s number one exporter of rice, exporting 6.5 million tons of milled rice yearly. Tourism contributes about five per cent of the Thai economy’s GDP while long stay foreign residents and their business investments is a substantial portion in its GDP.
The country’s capital, Bangkok expanded rapidly with the influx of workers during the boom years and is regarded as one of Asia’s most vibrant and busiest cities.
A major concern for the country is the rapid increase of HIV infection, due to its large-scale sex industry.
Thailand’s restive south, which is Muslim-populated, has been entangled in separatist struggles for decades and the violence is targeted mainly at the majority Buddhist population.
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