Thread: Trade war has little to no impact on Thai economy: UTCC

BANGKOK, 21st October 2018 (NNT) – The University of the Thai Chamber of Commerce (UTCC) says the country’s economy remains strong in spite of the ongoing trade war between the United States and China.

Thanawat Polvichai, director of the Economic and Business Forecast Centre of the UTCC, on Saturday revealed that the country hasn’t yet felt the impact of the global trade war and that the Thai economy remains strong despite rising crude oil prices in the global market and the lower number of Chinese tourists arriving in Thailand.

If the country is able to gain back Chinese tourists’ confidence by November, coupled with various tourism-related festivities and government spending, Thanawat reckons that the overall economy will expand by 4.6% this year.

As for 2019, he said government infrastructure projects and the expansion of the Eastern Economic Corridor (EEC) will determine the growth of the Thai economy which the center expects should range between 4% and 4.5%.


National News Bureau Of Thailand | Trade war has little to no impact on Thai economy: UTCC

The Thai economy doesn't figure for much outside of Thailand. The country was on the 2018 US watchlist of currency manipulators with celebrated muscle like Switzerland, Korea, Japan, Germany, India etc, but they decided to remove it because although Thailand meets the three main criteria for listing, its economy has no significant effect on the broader picture and can be safely ignored.