0814 Thai economy code 3527
- forced to open trade **1859 japan (Meiji) ***Nagasaki: japan's only door to world trade in 1571 castella, tempura (from portugal) ***industralization Japan ***Sent 6000~ students ***emphsize science and engineering ***initial export raw silk, tea, and marine products, later change to manufactured goods ***less land supply
**1855 siam (King chulalongkorn) ***Ayutthaya: foreigners accounts for quarter of residents. export forest products ***red seal ship trade: government trading ships ***'Yamada Nagamasa': Japanese who becomes officer in Siam ***King Prasart Thong 1629-1656 made royal monopoly trade ***King Narai 1656-1688 ***primary product oriented rice, teak, tin, 'rubber' ***history ****old enemy burma disappeared but french was getting aggresvie from east colonial. ***watershed: Sandwitch's bowring treaty 1855: british trade freely; 3% of all things except gold bullion and oppium; siam gov keep the right on prohibit export salt, rice, fish to keep these necessities price low ***other countries follow the pattern ***the export item didnt change until 1960 (top 3 : rice, tin, teak) ****removal forest make rice produce more productive ***abundant supply of land make industrilzation less attractive ***low emphasis on infrastructure and edu
*1950 Siam **have high imcome elasticity **have export surplus
*Stolper-samuelson thm: rise in the relative eprice of a good lead to rise in return to that factor which used most intensively
*Corn law debate: profit of landlord vs consumers
*factors of growth capital **geography, trade **institution (rent seeking, corruption, law) **natural resource **human capital **productivity