But turning Thailand into an all-round force in carmaking will not be easy.

ECONOMIST: Why Bangkok is the place for pick-ups

As the losses mount in European volume carmaking, it is becoming ever clearer that the continent is simply making too many cars in too many factories.

ECONOMIST: Luxury cars are speeding ahead; lesser brands are stalled

Both reckon the future for European carmaking lies in places such as Slovakia and Romania, where labour costs are low.

ECONOMIST: The car industry

Joint ventures are common in fields such as carmaking, logistics and agriculture.

ECONOMIST: The hidden costs of state capitalism

India would also like leading firms in industries including drugs, carmaking and IT to have better access to China.

ECONOMIST: India and China

In Brazil, by contrast, carmaking has long been an integrated industry, with high local content.

ECONOMIST: Brazil, Mexico and trade

These days Turkish firms are leading lights in many manufacturing industries, notably in construction, furniture, textiles, food-processing and carmaking.

ECONOMIST: The economy has had a big boost from much sounder management

They either do not know their own costs (a distinct possibility), have revolutionised carmaking (highly unlikely) or are being subsidised in some way.

ECONOMIST: Counterfeit cars in China

In its wake foreign firms piled into industries such as consumer goods and carmaking, drawn by a big pool of labour and customers.

ECONOMIST: Business in India

In the first few years of the 20th century there were thousands of people tinkering with carmaking, most of whom went bust.

ECONOMIST: Digital dilemmas | The