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

Quick Summary:

When Chinese electric vehicle maker BYD opened its first Southeast Asian factory in Thailand earlier this month, the nation of 66 million people basked in the limelight and won praise for its industrial vision.

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".

Nava Chantanasurakon, vice chairman of the Federation of Thai Industries, 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.

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Article Details

Category: EconomyBusiness

Markets: ThailandChinaJapan

Topics: Srettha Sector Industrial Thai Economy Baht Left Factory Year Thailand Workers

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 09:46:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 830 words

Reading Time: 5 minutes read

Sentences: 33 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 21620011

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