Question

has thailand benefited from or been hurt by globalization?

Answer 1

Thailand has benefited by globalization. A development in communication, an improvement in transportation, spreading of multinational firms, and deregulating markets leads to globalization. In a positive way, globalisation improved living standard of people living in Thailand. Thailand has created deregulation market for international and local industry. Numerous multinational companies have been encouraged by deregulation in Thailand market to enter and invest, such as, Honda, Michelin, Toyota, and Mercedes Benz. Investments from international companies help Thailand to raise the GDP and increase employment rate by providing jobs and high salary.

Moreover globalization encourages Thai youths to study aboard, which can be beneficial for them because it will create an opportunity to get employment at a higher salary. Additionally, it is safer and cheaper, than it used to be due to better communication system and low cost of transport between countries. Thai food has also become popular and famous around the globe due to the globalization.