Economic nationalism in Singapore and Thailand
The case of the Shin Corporation-Temasek Holdings business deal

Author: Sam, Choon Yin

Source: South East Asia Research, Volume 16, Number 3, November 2008 , pp. 433-459(27)

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Abstract:

Economic nationalism is often associated with the mercantilist view. Being nationalist is viewed as non-conventional, particularly in the age of globalization in which cross-border trade and investment are perceived to bring benefits to all participants. The paper questions this notion of economic nationalism. The author argues that in today's context, policy changes that appear to be 'nationalist' may not be totally inconsistent with policies advocated by liberals. This description of economic nationalism is applicable to Singapore and Thailand. By means of a case study (involving the Shin Corporation of Thailand and Temasek Holdings Limited of Singapore), the paper shows that the governments did not hesitate to arouse local support to maximize their respective national interests while at the same time remaining active in regional and global initiatives. The decisions of the Thais and Singaporeans reflect the trend towards an increasing discomfort with globalization.

Keywords: NATIONALISM; SINGAPORE; THAILAND; SHIN CORPORATION; TEMASEK HOLDINGS

Document Type: Research article

DOI: http://dx.doi.org/10.5367/000000008787133427

Publication date: 2008-11-01

More about this publication?

South East Asia Research publishes articles based on original research or fieldwork on all aspects of South East Asia within the disciplines of archaeology, art history, economics, geography, history, language and literature, law, music, political science, social anthropology and religious studies. This peer-reviewed journal is published four times per year by IP Publishing in cooperation with the School of Oriental and African Studies (SOAS). SOAS is the leading centre in this field in Europe and one of the most prestigious centres of South East Asian Studies in the world.
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