ENTERING INTO A BUSINESS RELATIONSHIP OR JOINT VENTURE IN THAILAND — A CULTURAL PERSPECTIVE

In recent years the Thai economy has performed extremely well. The growth rate in 1987 was almost 7%, the highest of the Asian countries at that time, and in 1988, 1989 and 1990, the growth rates in G.D.P. were even more spectacu‐lar, 10.9%, 13.2% and 10% respectively, or an 11.7% average over the three years, making Thailand the fastest growing economy in the world over this period.