Thailand’sEconomic Nationalism (01)

Thailand’sEconomic Nationalism (01)

In the economic sphere, Phibunsonggram’s nationalism was based on the principles of self-sufficiency, nationalism, and protectionism, and directed against the resident Chinese Community.

PM Phibunsonggram

The Thais were encouraged to replace the Chinese community in economic activity. Phibunsonggram’s slogan was “Thailand for the Thais in the economic sense no less than in the political one.”

He engaged in persuading his fellow-countrymen to produce more for themselves and to import less from abroad, in order to become as independent as possible of foreign supplies.

He introduced a law obliging small scale farming in every household outside Bangkok and urban centers. In March 1939 the government passed a new Revenue Code, in an attempt to lighten the financial burden of the peasant and free him from dependence on Chinese money-lender.