Thailand’s economy eyes rebound in 2023 buoyed by China’s booming influence

[webfact]

 

A light of hope has started to shine on the future of Thailand’s economy as we look forward to this year, and China’s influence as a significant driving force cannot be ignored, so suggests a leading Thai economist.

 

The said economist, Kirida Bhaopichitr, who honours the position of Director for the Economic Intelligence Service at the Thailand Development Research Institute (TDRI), highlighted this perspective in a recent interchange with the State news agency of China, Xinhua.

 

Kirida and her expertise noted how the compounded factors of China’s economic growth and the strengthening cooperation established between China and Thailand in various industries are taking centre stage in reaffirming Thailand’s road to recovery. Interestingly, China’s influence is also alleged to help buffer against the potential risks that accompany aspects such as sluggish global economic growth.

 

As she further delved into the specifics, Kirida warned of the multitude of factors that precisely induce stress on Thailand’s exports. These disruptions include fluctuations in the exchange rate of the Thai baht, unexpected natural disasters, an increase in unpredictability of the U.S. economy and geopolitical risks. With such factors in play, a continuation of contraction in Thai exports can be anticipated in the near future.

 

by Top 

Photo courtesy of ddproperty.com

 

Full story: https://thethaiger.com/hot-news/economy/thailands-economy-eyes-rebound-in-2023-buoyed-by-chinas-booming-influence

 

-- © Copyright Thaiger 2023-07-24

 

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[BarraMarra]

Sad state of affairs when you have to rely on China bailing Thailand out. China is struggling with home cost of living Chinese tourism falling drastically to Thailand last week they were bragging that high end up Indians were on there Target list. What next week? A TAT spokesman predicts 10 million Greek tourists due to the ongoing Wild fires in Greece TAT predicts high numbers next year. 

[spidermike007]

Kirida Bhaopichitr, who honours the position of Director for the Economic Intelligence Service at the Thailand Development Research Institute (TDRI) seems to be living in an alternate universe. There are a multitude of problems facing China's economy, hundreds of millions have not recovered financially from the severe covid shutdowns, and Chinese tourism to Thailand is way, way down.

 

China's economy continues to face problems as factory activity contracted for a third straight month in June, following on from other lacklustre surveys this week. This is increasing the pressure on policymakers to shore up growth in the world's second-largest economy, which is flatlining after an initially strong post-COVID rebound in the first quarter.

 

https://www.weforum.org/agenda/2023/06/us-china-economy-stories-to-read-this-week/

 

The fizzled reopening isn't just a short-term disappointment, it's a sign that the old China is gone. The mechanisms that drove the "Chinese miracle," a triple-decade transformation that made the country an international force, have broken down. The bubble in China's property market finally popped. And because of real estate's central role in the economy, the painful process of absorbing those losses will continue to suck money away from Chinese households, banks, and China's massive web of local governments. China's working-age population is getting old, and there are fewer young people to replace them than at any time in the country's modern history.

 

https://www.businessinsider.com/china-debt-economy-implode-stock-market-wall-street-xi-jinping-2023-6

 

Add in the ghost city issue, and the debt crisis really comes into focus.

 

 

 

[JimHuaHin]

As some earlier posts have hinted, "... Kirida Bhaopichitr ... Director for the Economic Intelligence Service at the Thailand Development Research Institute ..." seems to have a very distorted view of what is happening with the Thai economy.  Numerous publications since the begiing of this year from the Australian National University-based "East Asian Forum" have noted the failing state of the current Chinese economy, including Emperor Xi forcing a focus on domestic rather than foreign consumption and China being unable to meet promised BRI foreign funding.

[Jacques Clouseau]

The Thai economy is doomed.

Thailand is ageing too quickly.

Workers are lacking everywhere.

The state isn't pushing smart reforms.

Education sucks and won't get any better.

Thailand won't succeed to become a prosperous country before it gets too old to do so.

China might alleviate the pain but that about it.

As for the West, it has no more juice and is slowly be slowly falling apart socially.

[StayinThailand2much]

Not sure what is 'booming', but the Chinese economy reportedly is not. But who knows, maybe (the Thais think that) the Chinese will hand over whatever money they still have to Thailand... 

[Cake Monster]

China is on its A12e at the moment

They are ( encouraging ) domestic vacations s to keep ,money within thee Country

[RichardColeman]

12 hours ago, webfact said:

Kirida and her expertise noted how the compounded factors of China’s economic growth

That growth is currently in the toilet and nothing to be cheered at

[khaowong1]

First the Thai's are deeply in debt, and now Thailand's economy is buoyed by China's booming influence.  Something screwy here.  

[cncltd1973]

13 hours ago, webfact said:

With such factors in play, a continuation of contraction in Thai exports can be anticipated in the near future.

hard to believe a thai expert in anything, and here's the expected contradiction in the last paragraph - anticipating a continuation of contraction in Thai exports!  is it just me or does that statement nullify the rosy outlook of the preceding paragraphs? as if stating 2 opposing predictions will cover any outcome and protect one's reputation! so which is it - more exports or less???

[Kenny202]

They really have their cake and eat it here. I read 5 posts a day with the TAT blaming Chinas ailing economy for the massive drop in Chinese tourist numbers. Now China is booming and going to save the day? ???????????? You couldn't make up the shet that goes on in Lieland