Thailand’s inflation is not a major concern as China is currently “exporting deflation” globally, according to Supavud Saicheua, chairman of the NESDC. He adds that as a small country, geopolitical problems will affect Thailand.
Mr Supavud says that China is trying to become a high-tech producer, with the government opting not to intervene.
China is exporting deflation globally, which affects Thailand because China produces large quantities of goods for global markets. Meanwhile, domestic consumption remains low. China’s consumption-to-GDP ratio is only 24%, causing its goods to flood partner countries.
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