All roads lead to China
Professor Dr Kriengsak Chareonwongsak
Executive Director, Institute of Future Studies for Development (IFD)
kriengsak@kriengsak.com, http://www.ifd.or.th
This article was first published in the Bangkok Post on December 16, 2001 after the events of 9-11 when the US was attacked by terrorists causing the US economy to slow down. In this article the author suggested that the Thai government place more importance on trade between Thailand and China because of the high earnings potential of the Chinese economy. Later, in October 2003, the Thai government made its first bilateral agreement on FTA with China.
The effects of the slowdown in the world economy, exacerbated by the attacks on the United States in September, have been felt in Thailand, which for many years has relied on the US and its partners as major trading allies.
With an upturn in these traditional markets not expected in the short term, and with the benefits of the ASEAN Free Trade Area (AFTA) likely to be limited, Thailand needs to look elsewhere for trading partners on its road to economic recovery.
Right now (2001), one of the most interesting markets is offered by China. With a population of close to 1.2 billion people, it is the biggest in the world, offering a broad economic base with high consumption and production potential.
Professor Dr Kriengsak Chareonwongsak
Executive Director, Institute of Future Studies for Development (IFD)
kriengsak@kriengsak.com, http://www.ifd.or.th
This article was first published in the Bangkok Post on December 16, 2001 after the events of 9-11 when the US was attacked by terrorists causing the US economy to slow down. In this article the author suggested that the Thai government place more importance on trade between Thailand and China because of the high earnings potential of the Chinese economy. Later, in October 2003, the Thai government made its first bilateral agreement on FTA with China.
The effects of the slowdown in the world economy, exacerbated by the attacks on the United States in September, have been felt in Thailand, which for many years has relied on the US and its partners as major trading allies.
With an upturn in these traditional markets not expected in the short term, and with the benefits of the ASEAN Free Trade Area (AFTA) likely to be limited, Thailand needs to look elsewhere for trading partners on its road to economic recovery.
Right now (2001), one of the most interesting markets is offered by China. With a population of close to 1.2 billion people, it is the biggest in the world, offering a broad economic base with high consumption and production potential.
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