The Asian ‘Tiger’ Economy That Never Quite Roared
A portrait of Thailand’s King Bhumibol Adulyadej sits in front of the Grand Palace in Bangkok on May 6. His reign saw major economic development, but the nation’s competitiveness faded soon before he died in 2016.
Photographer: Andre Malerba/BloombergAmid all the buzz over friend-shoring and reworking global supply chains, India, Vietnam and Mexico get a lot of attention these days. One nation that doesn’t is Thailand. But it wasn’t always that way.
Four decades ago, Thailand was leaping ahead at a time when China was just starting to emerge from economic ruin. Global automakers were pouring in so much money that the Southeast Asian nation was dubbed the Detroit of Asia.