Thailand has been a “leading beneficiary” from the ongoing trade fight between Washington and Beijing, according to Standard Chartered’s Clive McDonnell.
Although regionally Vietnam has often been named as one of the biggest winners from the fallout of the U.S.-China trade war, he pointed to the Thai baht “appreciating strongly” against the dollar as evidence of the Southeast Asian nation benefiting from the U.S.-China trade war, as reported in a CNBC article.
Since the start of the year, the Thai currency has appreciated more than 6% against the dollar.
The trade battle has “increased the importance of Thailand” as a base for manufacturing Japanese goods such as auto parts and electronics to be exported to America, McDonnell explained in an email to CNBC. Japan is Thailand’s largest source of foreign direct investment, he said.
Regionally, Vietnam has often been named as one of the biggest winners from the fallout of the U.S.-China trade war.
However, data so far suggests that Vietnam has a long way to go before it can match China’s manufacturing capabilities.
Subscribe via Email
Asia Pacific’s passenger traffic drops 98,8% in April
Preliminary April 2020 traffic figures released today by the Association of Asia Pacific Airlines (AAPA) showed that international air passenger...
Thai parliament urged to pass record 1.9 trillion baht ($59.6 billion) stimulus bill
Thailand's Prime Minister Prayut Chan-O-Cha on Wednesday urged parliament to approve the kingdom's biggest-ever stimulus package to revive an economy...
Thailand hopes to produce COVID-19 vaccine next year
The vaccine, developed by Thai researchers, is an MRNA vaccine designed to help the body create immunity against the new...
CLMV’s economic growth crashes to two-decade low due to COVID-19
The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in...
Zero New Covid cases and deaths in Thailand
Thailand reported no new coronavirus cases on Sunday May 24th and no new deaths, but the Centre for COVID-19 Situation...
Thailand extends state of emergency for another month
Thailand’s Centre for COVID-19 Situation Administration (CCSA) has approved the proposal of the National Security Council to extend the country’s...