Thailand Business News – “Vietnam’s Rapid Growth vs. Thailand’s Rising Inequality: A Comparative Analysis”

The article “Richer, Faster—But for Whom? Vietnam’s rise and Thailand’s inequality problem” explores the contrasting economic trajectories of Vietnam and Thailand. It emphasizes the importance of “Pro-Poor Growth,” which is shaped by institutional economics, to understand how economic benefits are distributed across society.

Vietnam has showcased significant economic growth, raising questions about its potential to surpass Thailand. This shift in perception among Thai citizens reflects a blend of concern and resignation regarding their own economic standing. The piece argues that merely tracking Gross Domestic Product (GDP) is insufficient to gauge real improvements in societal well-being.

Central to the discussion is the role of institutions—rules, norms, and governance structures—that dictate who reaps the benefits of economic progress. The concept of Pro-Poor Growth is critical for assessing economic strategies that prioritize poverty reduction. Ultimately, the article underscores the need for more inclusive economic policies in Thailand to mitigate rising inequalities and ensure sustainable growth for all citizens.