Thailand: From Tiger Prowess to Middle-Income Stagnation and Beyond
Thailand: From Tiger Prowess to Middle-Income Stagnation and Beyond Thailand's economy, once a roaring "tiger" symbolizing rapid Asian development, has faltered over the past two decades, slipping into a middle-income trap characterized by stagnant growth, demographic headwinds, and structural rigidities. From the 1980s boom driven by export-led industrialization and foreign investment, the nation has seen average GDP growth drop to 2-3%, overtaken by dynamic neighbors like Vietnam and Indonesia. This decline stems from political instability, low productivity, and failure to innovate, contrasting sharply with the successes of Asian Tigers and post-communist Europe. Geopolitical alignments played pivotal roles in those triumphs, raising questions about Thailand's path forward. As the country faces a fragile 2026-2030 outlook amid global tensions, urgent reforms could revive its potential—or deepen the trap. Historical Boom: The Tiger Era (1980-2004) Thail...