Siam, now known as Thailand, was never colonized by Western powers. Despite the nineteenth-century expansions of the British to its west and south and the French to its east, Siam managed to survive as a country until the end of the colonial era. How did Siam evade colonial rules? More specifically, why did the British and the French choose a policy of restraint over Siam, while not doing the same for others? This chapter argues that Siam’s survival was due to a combination of its geographical location and strategic political and economic reforms. Siam’s central location provided the crucial advantage of time, allowing it to prepare for encounters with Western powers. Additionally, through successful reforms, Siam strengthened its political and economic systems, eliminating any potential threat to Western interests and removing the pretext for colonization.