Thailand's investment-oriented economy is among the most rapidly growing in Asia. Despite this success, economic development has been highly uneven, especially in agriculture.
Although much of Thailand's export revenues and a majority of the labour force depend on agriculture, its contributions to economic growth have declined consistently since 1950. Aiming at diversification, the government has encouraged investment in small industry.
To encourage exports, duties are low, except on rice, to which a premium is attached to prevent domestic shortages. Unions are prohibited and strikes not allowed unless management fails to agree with employees and government mediators.
Although much of Thailand's export revenues and a majority of the labour force depend on agriculture, its contributions to economic growth have declined consistently since 1950. Aiming at diversification, the government has encouraged investment in small industry.
To encourage exports, duties are low, except on rice, to which a premium is attached to prevent domestic shortages. Unions are prohibited and strikes not allowed unless management fails to agree with employees and government mediators.
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