Both theories can be bound up into
one in the Thai context. It is true that Thailand began to pursue industrialization with a large
amount of unused land and abundant labour due to rapid population growth since the Second
World War (see Siamwalla, 1991; Siriprachai, 1995a). This starting point is as different (as
chalk from cheese) when compared to the East Asian NIEs, namely Japan, South Korea and
Taiwan. The natural resource advantage arising from plentiful forestland is moderated by the
degree of population pressure on resources and the Malthusian ghost never appears in the
Thai context.