Thailand, officially the Kingdom of Thailand (Prathet Thai, or “Land of the Free”), country in Southeast Asia. Thailand is the only Southeast Asian country never to have been occupied by any European or other foreign power, except in war.
Many different factors contributed to the rapid growth of Thailand’s economy. Low wages, policy reforms that opened the economy more to trade, and careful economic management resulted in low inflation and a stable exchange rate. These factors encouraged domestic savings and investment and made the Thai economy an ideal host for foreign investment.
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