PM Srettha wakes up to threat of cheap Chinese goods dumped on Thailand

[webfact]

Prime Minister Srettha Thavisin has ordered urgent action to tackle the influx of cheap imports from China into the kingdom, fueling a ballooning trade deficit with its northern neighbour. Officials are proposing to reimpose some regulations on tax charged at the point of entry, in addition to other measures. However, the threat posed by China’s state subsidies and economic policies to Thailand is also long-term. Of course, it has also been exacerbated by the policies pursued by the previous government.

Thai PM raises the alarm over Chinese product onslaught: Trade deficit balloons, economic future growth and well being is at risk. The government is urged to act swiftly to safeguard local industries and tackle the influx of cheap goods. A danger that extends beyond the economy. The threat to national security also exists long term due to Chinese subsidies for its agriculture and fisheries industries.

Prime Minister Srettha Thavisin raised the red flag this week against cheap Chinese imports undercutting Thai producers. His rhetoric was backed up by efforts by officials to raise regulatory barriers and axe concessions to the deluge of Chinese products which have left Thailand with a ballooning trade deficit.

 

However, this is an even more significant problem. In effect, it highlights at least a decade of misguided economic policies. In short, Thailand has been blindsided by China. The previous government, in particular, failed to see the real threat posed not only to the kingdom’s manufacturing base but also its food security and even its stability in the longer term.

 

Certainly, Prime Minister Srettha Thavisin urged the Revenue and Customs Departments to take measures to curb the trend. The Prime Minister’s call for action comes in the wake of rising disquiet voiced by various economic bodies.

 

by Joseph O' Connor

 

Full story: Thai Examiner.com 2024-02-17

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

 

[Artisi]

The bosses of the mother country won't be too happy. 

[2baht]

Bow to the Emperor (Xi)! 

[Geoffggi]

2 hours ago, webfact said:

However, this is an even more significant problem. In effect, it highlights at least a decade of misguided economic policies. In short, Thailand has been blindsided by China.

Now this is funny, and the lesson is "Really get to know your neighbor before opening your arms to embrace" sometimes your closest neighbor may not be the best one ..............LOL 😎🤣😂

[hotchilli]

2 hours ago, webfact said:

Thai PM raises the alarm over Chinese product onslaught: Trade deficit balloons, economic future growth and well being is at risk. The government is urged to act swiftly to safeguard local industries and tackle the influx of cheap goods. A danger that extends beyond the economy.

Thailand doesn't like FTA's they like one way traffic only.

[thesetat]

3 hours ago, webfact said:

In short, Thailand has been blindsided by China.

This happens all too often with countries doing business with China. 

[Korat Kiwi]

Well HELLO! 

Finally they are starting to smell the coffee. 

[JoePai]

Quite simple, Thailand is a vassal state to China

[spidermike007]

Imagine Sretta waking up? He seems to be in a long slumber. Alot of yakking, and absolutely no action, on any policy to date. 

 

He won't do anything about the air. Why? He is beholden to his masters who own Big Agra. Same applies to his other policies. Whatever his master want. He is a slave to them. That is exactly why he was appointed. He likely took a vow of obedience. 

[jippytum]

Srettha wakes up.. That's a joke.he's sleepwalking.... Any expat could tell you of the Chinese influenze on trade in Thailand. You don't  need to be finance minister and PM to realise that.. 

Edited February 17 by jippytum

[Pouatchee]

damn... gonna hit shopee and lazada pretty hard... oh no!  

wonder if sretta still gonna love the chinese as much. he just realised the floodgate has been open to them for a while now

Edited February 17 by Pouatchee

[Tropicalevo]

PM Srettha wakes up to threat of cheap Chinese goods dumped on Thailand

 

Does this PM have cotton wool in his head?

This has been going on for years and he only just realises it now!

Edited February 17 by Tropicalevo

[futsukayoi]

Better if he woke up and realised that the roblem is not cheap goods coming in an reducing the cost of living.  The massive problem is that Thai manufacturers and workforce are totally unable to compete with the productivity and quality levels of those in other countries.  The answer is to follow Japan, Korea, Taiwan and China by improving education, having a strong work ethic, providing massive support to companies which show success in comperting internationally and grow exports, allowing bloated dinosaurs or innefficient protected monopolies to die etc.

[klauskunkel]

5 hours ago, webfact said:

The previous government, in particular, failed to see the real threat posed not only to the kingdom’s manufacturing base but also its food security and even its stability in the longer term.

The previous government prospered individually, something the current government is aiming to achieve.

[Thingamabob]

Sadly, after a history of cleverly avoiding colonisation,Thailand is now virtually under Beijing's control. While many Thai politicians have become wealthy as a result of this process in recent times, most Thais have experienced no benefit whatsoever. In fact many are worse off as a result.

[Burma Bill]

7 hours ago, webfact said:

Thai PM raises the alarm over Chinese product onslaught.............................. to safeguard local industries and tackle the influx of cheap goods

 

Such as Xiaomi Air Purifiers for exmple????😏

[NoshowJones]

4 hours ago, jippytum said:

Srettha wakes up.. That's a joke.he's sleepwalking.... Any expat could tell you of the Chinese influenze on trade in Thailand. You don't  need to be finance minister and PM to realise that.. 

Is this all because of there being so many Mr Do It Yourself shops springing up?

[John Drake]

9 hours ago, webfact said:

In short, Thailand has been blindsided by China. The previous government, in particular, failed to see the real threat posed not only to the kingdom’s manufacturing base but also its food security and even its stability in the longer term.

 

All the Thai negotiators could see was big money for durians, pork, and timber being shipped to China (and the resulting increase in prices for Thai consumers of those same exports). It apparently never occurred to them that the other side (China) would use the trade agreement to pillage, ruin, and abuse the Thai economy just like they do everywhere else.

[Enoon]

 

 

4 hours ago, Thingamabob said:

Sadly, after a history of cleverly avoiding colonisation,Thailand is now virtually under Beijing's control. While many Thai politicians have become wealthy as a result of this process in recent times, most Thais have experienced no benefit whatsoever. In fact many are worse off as a result.

 

Instead it became an Internally Colonised State. 

 

The policy was obviously not named as such, but it became fully developed and heavily promoted after WW2 with a name that will be very familiar to at least some AN members.

 

This entry features/describes Thailand as one of the examples of Internal Colonisation

 

https://en.wikipedia.org/wiki/Internal_colonialism

 

 

 

Edited February 17 by Enoon

[Humpy]

Check out Lazada's products !!

[Gknrd]

And " Joke of the day! "

[spidermike007]

On 2/17/2024 at 9:48 AM, Thingamabob said:

Sadly, after a history of cleverly avoiding colonisation,Thailand is now virtually under Beijing's control. While many Thai politicians have become wealthy as a result of this process in recent times, most Thais have experienced no benefit whatsoever. In fact many are worse off as a result.

Well certainly China exerts some control here, but I think to say that Thailand is under Beijing's and the heinous CCP's control is quite an exaggeration. If we were life would be very different here, it would be a pale shadow of what it is now. Yes the army here is horrible, and yes they are oppressive when it comes to criticism, but that is about the extent of the oppression that we feel on a daily basis. This is NOT China, thankfully. I would not live there for any less than 10 million dollars a year. So yes, I am for sale. LOL. 

[bamnutsak]

On 2/17/2024 at 3:17 AM, webfact said:

His rhetoric was backed up by efforts by officials to raise regulatory barriers and axe concessions to the deluge of Chinese products which have left Thailand with a ballooning trade deficit.

 

 

So the PM is anti-free trade.

 

And pro-inflation.

 

 

Good to know.

 

 

 

 

[RandiRona]

I guess no one thought it’s gonna happen, I mean there is no precedent of that happening ever, Belt and Road is a success.. coming up… China taking over a port in Thailand for 99 year lease!