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Home » Background » The trade war between America and China
The trade war between America and China
While the trade war between the US and China would not pose an immediate problem for Thailand, the reality is that the impact is already being felt by businesses here.
The knock-on effect of this trade battle has not yet sunk in, although there are stories of Thai companies closing because their Chinese buyers can no longer source material from Thailand.
The US has imposed tax rates, reducing the differences in prices between imports and exports to and from China.
The percentage in rates differ from product to product and vary between 5 and 10 percent. However, higher rates of up to 25 percent can already be reported, which can cause a rapid increase in inflation. Hopefully this will not put too much pressure on the baht!
An agreement to freeze this measure has been temporarily adopted in order to bring some calm to the international markets. However, after this period of only a few months, it is anyone's guess what direction it will take.
The trade conflict may later spread to Thailand. What bothers the US, among other things, are the large trade differences between countries and the US. For example, China imports USD 100 billion from the US and exports USD 500 billion, among other issues between these countries. Thailand exports USD 29 billion and imports USD 11 billion from the US, I read yesterday in a contribution by Chris de Boer in this blog. Thailand is a country with a big difference, so something will have to be done about that later. Several countries have already agreed to the requirements of the US, including recently Canada and Mexico. The ultimate goal is to create more employment in the US. So it can be assumed that trade, and especially exports to the US, will change.
Think that the US itself is to blame, they have been sleeping for years and have not taken action.
Seeing that the Brix countries are on the rise, especially China and Russia, they start to mutiny, think it's already too late for the US and they try to salvage what can be salvaged.
The US has imposed on the world to settle all transactions in dollars, Russia and China hardly do that anymore, Russia delivers thousands of tons of grain to Iran every year and they get oil back, trade with closed exchanges.
The sanctions imposed by our police officer are short-lived.
Last month, there was a conference with China, Thailand, Cambodia and Vietnam, cooperation in all areas, especially trade and tourism.
Russia has already largely absorbed the sanctions and invested heavily in self-support, what is not told is what the sanctions cost the EU, every year they miss 42 billion.
You can also see it in the news reports, China and Russia are paying the price, the EU is nothing in trade, they are following the US and do not dare to resist to promote free trade.
The US will soon be a second-rate trading partner, the dollar is slowly being dumped everywhere.
Whatever the trade war brings, between the great powers
will, as usually with these conflicts, only result in losers.
The US has such a large internal market and China's internal market is larger
But to buy internal products you need money.
The question is who can sustain the latter.
For me is far from my bed show
Hopefully it will mean that the exchange rate euro to thai baht
becomes more favorable to us.
Trade and Sales…..China has an eye on that because they already have Africa.
China dominates on all fronts and the Americans cannot have that.
Just for fun, visit a market in Thailand (talat) all Made in China and I'm often in Myanmar…..and everything there is Made in China. (Mass production) unfortunately no American products.
Europe must go its own way and dance less to the tune of the US.
The worst is yet to come…..
TonyM
Laos is almost annexed by China.
But they are now "better" off.
First colonization by France, then bombing by America!
China is now helping them, in its own interest, with infrastructure and trade.
Trade under Chinese supervision but employment.
I don't often agree with Trump, but I do on this one. China, as well as Thailand and other countries in this region, have been benefiting for years from the open markets in the US and the EU, without actually opening up their own markets. International trade would be much fairer if a country like Thailand gave foreign companies the same rights as their own – often monopolistic – companies. Abolish the Foreign Business Act with all its restrictions and lower import tariffs and other obstacles to the level of the trading partner.