by Tony Cartalucci
was never colonized but made many concessions.
In the mid-1800’s, Thailand, then the Kingdom of Siam, was surrounded on all sides by colonized nations and in turn was made to concede to the British 1855 Bowring Treaty. See how many of these “gunboat policy” imposed concessions sound like today’s “economic liberalization:”
1. Siam granted extraterritoriality to British subjects.
2. British could trade freely in all seaports and reside permanently in Bangkok.
3. British could buy and rent property in Bangkok.
4. British subjects could travel freely in the interior with passes provided by the consul.
5. Import and export duties were capped at 3%, except the duty-free opium and bullion.
6. British merchants were to be allowed to buy and sell directly with individual Siamese.
1. 100% ownership of Iraqi assets.
2. Full repatriation of profits.
3. Equal legal standing with local firms.
4. Foreign banks allowed to operate or buy into local banks.
5. Income and corporate taxes capped at 15%.
6. Universal tariffs slashed to 5%.