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The fecundity of Siam's forests mean only one thing: lumber. Thus, Siam's buildings from humble farms all the way to the Nobles' Palace will cost less wood than usual, as will wonders as well too.
This ability to save on timber in construction can then be used for a variety of things: better economic research (with cheaper universities and timber); a more advanced navy (although Siam has a fairly weak navy, additional wood can be used to spam cheaper ships to effectively blockade the sea against more heavily armed European vessels); or possibly better food production (farms and agricultural development require timber).
On land, however, Siam's strategy is centred around one unique line of units: war elephants. While it is true that war elephants are fairly common among South Asian nations, what sets Siam's White Elephants from the rest is their lower ramp costs, higher movement speed and better hitpoints. The Colonial Era White Elephants have lower ramp costs - and if Siam researches Divine Mandate, it gets a third upgrade for its war elephants: the Elephant Brigade, which not only shares its penchant for better hitpoints and movement speed, but also has a ramp cost of zero! War elephants however do not make up the entire Siamese arsenal - the dreaded Guard infantry. Initially armed with swords and shields before teching up to bayonets, the Guard infantry are known for their fanatical devotion to the king, and as such are duly feared for the speed at which they train, and the speed at which they move. Siam's one problem however is that it doesn't have reliable anti-cavalry infantry and must rely on the strength of its war elephants. Which means that it is at the mercy of its neighbour, Burma, which sports infantry and cavalry specifically tailored towards resisting the Siamese, the Indians and the Chinese. As such, the player who chooses Siam should take a page out of history - Siamese kings were not only proficient elephant-riding warriors, but skilled in the arts of trade and diplomacy too.