Thai economy faces upheaval due to factory closures, cheap Chinese imports

Quick Summary:

Thailand has witnessed nearly 2,000 factory closures in the last year.

Federation of Thai Industries vice-chairman Nava Chantanasurakon said his group has asked the government to look at measures to prevent tariff evasion amid the US-China trade war and high barriers for some Chinese goods in other regions.

Mr Srettha has argued that his party’s controversial and delayed 500 billion baht handout scheme that has met a barrage of criticism – including from the central bank – is essential: “It will be strong medicine to revive the economy.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaJapanThailand

Topics: 2023 Left Cent Factories Economy Thai Chinese Factory Workers Industrial Thailand

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 09:37:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 786 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 21618673

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