Wealth Inequality in Thailand
It is fair to say that the Thai conglomerate, CP, has been taking quite a beating on social media and other spheres of consumer society. We will certainly discuss the issue of CP in a later post, but we would like bring your attention to the main point: Wealth inequality.
According to a Credit Suisse Wealth Report, Thailand is categorized in the top 12 countries with “very high inequality” That’s the highest rank you can get on this honorable list. This means that the top 10 percent holds 75 percent of Thailand’s wealth.
Before you start going falling into the social-media hate trap and ranting about CP’s monopolistic business practices, start considering the bigger picture of Thailand. Wealth inequality is certainly hard to solve when you have business and political elites sleeping in the same bed.
(source: James Davies, Rodrigo Lluberas and Anthony Shorrocks, Credit Suisse Global Wealth Databook 2014)