China
Thailand – China rail project likely to break ground in 2016
If negotiations go on smoothly, construction will start at the end of this year or the beginning of the next, Prajin Juntong told Xinhua on the sidelines of the 13th China-ASEAN Expo in China’s southern city of Nanning.
Construction on a rail line between Bangkok and Nakhon Ratchasima in Thailand looks set to start this year, Thai Deputy Prime Minister Prajin Juntong said Sunday.
If negotiations go on smoothly, construction will start at the end of this year or the beginning of the next, Prajin Juntong told Xinhua on the sidelines of the 13th China-ASEAN Expo in China’s southern city of Nanning.
Upgrading the railway network
The upgrading of the railway network is of great significance to the Thai economy, and China has plenty of experience with high-speed railways, Prajin Juntong said.
Currently, Thailand and China are negotiating financing and other issues, he said.
According to Thai sources, the Bangkok-Nakhon Ratchasima railway will use Chinese trains and Chinese technology.
Thailand and China signed documents on the development of Thailand’s transportation infrastructure in 2014.
The China-Thailand railway project will improve regional connectivity and support regional economic and social development, Prajin Juntong said.
Economics
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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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