JSCCIB to discuss Chinese goods influx and revise Thai economic forecasts

[snoop1130]

 

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is preparing to discuss new economic challenges such as the influx of Chinese merchandise. The committee aims to formulate a fresh economic proposal for the Srettha Thavisin Pheu Thai Party-led government.

 

The subjects are set to be discussed in the committee’s today’s meeting. The JSCCIB intends to confer with the new administration on strategies to combat these economic issues and how the government can provide more efficient support to the business sector, said Kriengkrai Thiennukul, Chairman of the Federation of Thai Industries (FTI), a principal member of the JSCCIB.

 

“We are keen to include the issue of Chinese goods inflow in the proposal since an increase in imports could impact local businesses, primarily small and medium-sized enterprises.”

 

Kriengkrai highlighted the rising trend of inexpensive Chinese product imports, which could potentially disturb the trade equilibrium between Thailand and China, reported Bangkok Post.

 

The JSCCIB is also set to reconsider its growth and inflation predictions in response to changing economic conditions during the Thursday meeting. However, despite export figures remaining subdued for several months, the committee anticipates retaining its 2023 export forecast.

 

The JSCCIB had previously reduced its export prediction to -2% for the year, a drop from -1%. The committee’s most optimistic export scenario is zero growth.

 

By Alex Morgan

Caption: Photo courtesy of Bangkok Post

 

Full Story: https://thethaiger.com/news/business/jsccib-to-discuss-chinese-goods-influx-and-revise-thai-economic-forecasts

 

-- The Thaiger 2023-09-07

 

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[ExpatOilWorker]

They better act now, or China will crush the Thai auto industry.

https://www.nytimes.com/2023/09/06/business/china-car-exports.html?smid=tw-share

[smedly]

fake fake - fake

 

we in the west gave them the technology, it won't be long before we regret  thatspys spend years trying to protect from industrial espionageand leaked secrets and yet we gave the state of the art designs for free....yes we gave them technology they could never develope themslelves - handed on a plate 

[hotchilli]

10 hours ago, snoop1130 said:

(JSCCIB) is preparing to discuss new economic challenges such as the influx of Chinese merchandise. The committee aims to formulate a fresh economic proposal for the Srettha Thavisin Pheu Thai Party-led government.

Stop all Chinese imports in favour of doubling Thai exports to China?

[gearbox]

9 hours ago, ExpatOilWorker said:

They better act now, or China will crush the Thai auto industry.

https://www.nytimes.com/2023/09/06/business/china-car-exports.html?smid=tw-share

Not much the Thais can do about it. In fact it may help the car industry. BYD is opening a factory in Chonbury next year, and would avoid any import tariffs if the Thais decide to implement them. I guess a lot of BYD cars will go to Australia as we have FTA with Thailand. Other manufacturers would eventually follow the same path.

[sammieuk1]

There's a contraflow on the silk road as your now finding out, how amusing ????  

[retarius]

Shut Lazada down and solve your balance of payments problem, without hurting anyone in Thailand.

[RichardColeman]

12 hours ago, snoop1130 said:

 

Kriengkrai highlighted the rising trend of inexpensive Chinese product imports, which could potentially disturb the trade equilibrium between Thailand and China, reported Bangkok Post.

I never understand why countries worried about cheap Chinese goods destroying their own countries production just do not start imposing taxes on them to make them the same as locally produced goods !

[ExpatOilWorker]

23 minutes ago, RichardColeman said:

I never understand why countries worried about cheap Chinese goods destroying their own countries production just do not start imposing taxes on them to make them the same as locally produced goods !

Taxes are really not effective at solving the core problem, the Chinese will just make an even cheaper product and still kill domestic manufacturers. 

It is much better to impose strict safety standards and customer warranty protection, which is how the EU operate. The problem is inforcing these rules and that is where banana republics fail and the Chinese can kick the door wide open. Direct from China, to you and a landfill nearby.

Sooner or later Thailand (and other smaller nations) will have to act, China is bleeding their foreign reserves dry.

[freeworld]

3 hours ago, smedly said:

fake fake - fake

 

we in the west gave them the technology, it won't be long before we regret  thatspys spend years trying to protect from industrial espionageand leaked secrets and yet we gave the state of the art designs for free....yes we gave them technology they could never develope themslelves - handed on a plate 

Blah blah blah, yes many design and manufacturing designs etc..has been negotiated with the Chinese and agreed by western companies and their govts.

 

The Western companies wanted access to huge Chinese consumer market and Chinese manufacturers and their productive and skilled workers. Western companies manufacture cheaper and increase their profits, that's what govt like, more stuff to sell, more income, more tax.

 

What are we going to regret exactly? everybody can choose or not to buy the stuff or just do without.

[RocketDog]

4 hours ago, gearbox said:

Not much the Thais can do about it. In fact it may help the car industry. BYD is opening a factory in Chonbury next year, and would avoid any

That's outside of London, right? Or is that Canterbury?