There’s probably some other factors, but the biggest one is stable governance in Vietnam vs political instability in Thailand. Probably the only thing worse than extractive institutions are unstable ones.
Vietnam is projected to grow 10% while for Thailand it’s 1.5%. add to that Thailand’s absurdly low birthrate (tfr sub 1.0) and Thailand is in an extremely rough position.
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Link for the global poor: https://archive.ph/fRIQa
There’s probably some other factors, but the biggest one is stable governance in Vietnam vs political instability in Thailand. Probably the only thing worse than extractive institutions are unstable ones.
Vietnam is projected to grow 10% while for Thailand it’s 1.5%. add to that Thailand’s absurdly low birthrate (tfr sub 1.0) and Thailand is in an extremely rough position.