Today, General Motors announced plans for a new $445-million diesel-engine plant in Thailand. It has firmly established the country as the new Detroit of Asia.

This means long-term gains for the ISHARES MSCI THAI (NYSE:THD) Thailand index, says Irwin Greenstein writing for Contrarian Profits.

The index is down 21.83 percent over the past six months. But it almost certainly got dragged down with other emerging-market investments thanks to high inflation rates…

The Taipan Emerging Market Index is up today 44.2%, a huge gain from last week when it was virtually flat with an uptick of .52%. By comparison, this week saw the S&P 500 up 0.9% while the Dow Jones Industrial Average dropped 5.3% as of this writing.