After that, it began to develop.industryEmphasis on labor due to wage advantages The industry focuses on machinery and technology, respectively.
These industries are especially linked to the export sector.manufacturing industrythat has spread to many areas in Thailand The major change isEastern Seaboard Area Development Project
such as the establishmentLaem Chabang Industrial Estate, Chonburi established in the year 1982, which was the starting point for Thailand to start accepting foreign investment for developmentheavy industry andcommercial industry
To add value (Value added) to production as well as to create employment within the country. International trade and investment have created these benefits.
But at the same time, Thailand’s financial connectivity increased from financial liberalization. and establishmentInternational Banking Corporation (BIBF) for Thailand to benew financial centerin the ASEAN region
But it turned out to be one of the reasons why Thailand was born.The economic crisis in 1997 From the above, it shows that linking the global economy and the Thai economy can create benefits and disadvantages.
But when speaking specificallyinternational trade and investmentwith movement in the form of exports (Export) imports of raw materials intermediate product Including foreign direct investment, it was considered that the benefits outweighed the disadvantages during that period.
After 1997, Thailand faced additional challenges. because the economy is not growing as well as in the past which has many components
Part of it comes from the rest of the resources are more limited. higher production costs (e.g. labor, energy). The growth of a country does not come with the transfer of technology to be able to develop into such as catch up countries such as Korea, Taiwan, Singapore, etc.
There is also a groupEmerging economies with cheaper resources and production costs causing the ability to compete compared to competitors began to decrease
Causing the Thai government to try to focus on restructuring the Thai economy in order to be able to compete on the world stage especially the infrastructure system transportation system both land (road and rail), air, ship
including setting development goalsnew industry group (Modern automotive industry smart electronics industry Agriculture and Biotechnology tourism industry, good income and health sectors, etc.)
Recently, however, global economic dynamics are not just linking international economies closer together. But there are also changes thatMega trend that will affect the Thai economy more compared to the past
global trend It is something that many countries in the world are facing. (And will face in the not so distant future) Of course, each country will have immunity. and different defenses
There are five major global trends. is a change in the population structure or the emergence of an aging society The middle income trap and inequality unbalanced growth climate change geopolitical conflict
The key question is how Thailand will position itself against such a big trend. Economically feasible is the redistribution of resources to the agricultural sector. industry and the trade and service sectors
trendaging societyHas led to a decrease in the labor force (Labor Force), which may affect the agricultural sector that still relies on labor is important (Labor Intensive), the industrial sector that will need to develop skills and / or upgrade the world’s labor skills.
In the future, we want to avoid affecting productivity and competitiveness. and trade and service sectors that may face the use of foreign workers or a shortage of Thai workers (Which has now begun to occur in many productions such as restaurant services, fisheries, etc.)
The possibility of adaptation is
1) More use of technology in the production chain, such as high-value agriculture than selling primary agricultural products
2) Mobility of skilled migrant workers and no skill Therefore, it is unavoidable. The next thing to think about is how ready we are for the systems that support this flow (registration, taxes, health, welfare, etc.).
Middle-income trap trend bias and unbalanced growth is a point that is quite close to each other That is to say, past global economic cycles have created spatial unbalanced growth, leading to income inequality and other dimensions.
While global economic growth in the context of global supply chains creates middle income problems for countries that own primary production factors. or not creating added value through technology and innovation
Therefore, the agricultural sector appears to be the most vulnerable sector in Thailand.
A possible solution would be agriculture that connects downstream markets and niche markets, such as food safety or even agro-tourism.
Climate change has far-reaching effects. such as floods, droughts, global warming and PM2.5, etc. In addition, in the past decade, the climate has changed faster. and intensified with increasing violence
In addition, costs from climate change have directly and indirectly affected the production process from upstream to downstream. Make entrepreneurs, consumers and governments aware of this problem. led to cooperation on many projects
such as Greenhouse Gas Emission Reduction Project (Green House Gas), Bio-Economic Policy circular economy And the green economy (BCG Model) or the concept of sustainable development (ESG) etc.
Therefore, the trend of climate change (Climate Change) is considered to affect industrial changes.
the endTrends in geopolitical conflictsthat is increasing day by day The latest is the case of the Russian and Ukrainian wars. which affects the food production chain or food security including affecting energy prices and commodity prices
Although Thailand is not affected as much compared to many other countries, it should not be underestimated.
Conducting prudent relations with all future conflicting parties Seeking cooperation with more countries in the future is the right policy.