China
Chinese Tourists avoid Bangkok and go to Samui or Phuket
President of Thai – China Travel Association said that the number of Chinese tourists visiting the country in the last quarter is satisfactory. However, domestic political situation has caused them to change their destination to the South. As for the stronger Thai baht, the appreciation doesn’t affect the Chinese tourist market because the Yuan has also gone up against the dollar. Unstable political situation including rallies and explosions in Bangkok has caused Chinese tourists to avoid Bangkok and Pattaya, but opted to travel to the islands of Samui and Phuket instead. The two provinces have seen the number of visitors go up by more than double compared to that of last year. Chartered flights have also gone up to 60 flights a week, up from 20 per week last year. The Association has expected over 1 million Chinese tourists throughout the year, and more than 1.3 next year.
via Chinese Tourists avoid Bangkok
Economics
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.
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Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.
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