Flood of Cheap Chinese Goods Impacts Local Businesses in Thailand

Bangkok — China has defended itself against accusations that it is flooding the Thai market with cheap goods and hurting local businesses. In a post on its official Facebook account on September 4, the Chinese Embassy in Thailand called trade between the two countries “mutually beneficial.” “Nearly 80% of the goods Thailand imports from China are capital goods and semi-finished goods used for production and value-added before export,” the statement said. Most of the so-called cheap goods “are products used in daily life, food, health products, clothing, accessories, etc., which account for less than 10% of the total value of goods imported from China,” the statement added. The statement came after Thailand announced new measures to combat an influx of cheap Chinese imports that threaten its manufacturing sector. The Bangkok Post newspaper reported on Aug. 28 that Thailand’s deputy prime minister and commerce minister, Phumtham Wechayachai, said the government would set up a 28-agency task force that would meet every two weeks to review and revise regulations to curb the threat of cheap Chinese imports to Thailand’s already weak economy. The Federation of Thai Industries has previously warned that cheap Chinese goods could cause a “tsunami” in Thailand and the …

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Flood of Cheap Chinese Goods Impacts Local Businesses in Thailand

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