Effect of Military Takeover on Thailand’s Businesses
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HOW MILITARY TAKE OVER IN THAILAND WILL AFFECT DOING BUSINESS IN THE COUNTRY
- RISHI RAJ [DM15141]
- ROHIT KUMAR GOEL [DM15142]
- GLIMPSE OF POLITICAL FORMATION
Thailand, was known as Siam till 1939, for around 5,000 years it had been inhabited with the earliest civilization believed to be that of the Mons in central Siam, even though the first Siam state is the Theravada Buddhist kingdom of Sukohthai.
Among the most glorious periods in its history was the reign of Ayutthaya, which was established in 1351 by King Ramathibodi. During that time it was one of the centers of trade and commerce in Southeast Asia, Ayutthaya allure the disdain of the Burmese, and they conquered the kingdom twice in the 16thand 18thcenturies. During the second invasion, the capital of Siam was looted, laid to waste, and left in demolishes, a pale phantom of its aged glory.
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Thailand has one of the oldest existing monarchies, and in 1782 by King Rama I the current Chakri dynasty was founded with the capital shifting for the first time to Bangkok. During the 20thcentury saw the dawn of immense change in Thailand. King Mongkut (Rama IV) was instrumental in developing a strategy that enabled them to avoid the yoke of imperialism that overtook Laos, Cambodia and Vietnam –Siam’s closest neighbors.
The King’s strategy was simple: his ministers signed unequal treaties that gave free trade, additional rights, and special advantages to imperial powers liketheU.S., Great Britain, Japan and France. The consequence was that by playing each one of these powers to one another, Siam figured to maintain its independence. A peaceful coup revolved the country into a constitutional monarchy in 1932, as earlier Siam now known as Thailand in 1939.
Controversially, During World War II Thailand sided with Japan. The period following the war was a chaotic one for Thailand as it battled a number of military coups even as dissatisfaction rose against inexperienced public officials, food shortages and rising inflation. The democratic elections of 1979 had its first period of stability, as the economy sturdy with the crumble of military rule.
