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Economist: Thailand Deal More With China
Thailand should deal more with China, as more US capital is out-flown to the Chinese economy following terrorist attacks in the United States two weeks ago, the Thai News Agency(TNA) Thursday quoted a leading academic as saying.
Anusorn Dharmchai, Director of the Research Department of CITIBANK here said that more capital had been moved from the United States to China since the terrorist attacks against the World Trade Center building in New York and the Pentagon building in Washington.
Thai businesses and investors should, therefore, turn to deal more with their Chinese counterparts, as returns to investment were anticipated to be higher and more stable, he noted.
The government should also adjust its policies to facilitate more linkage between the Thai and Chinese economies, he suggested.
Thailand could access to the Chinese economy through regional economic cooperation frameworks, including those within the Mekong Sub-region, Anusorn pointed out.
Meanwhile, the U.S. government announced Thursday that the U.S. economic recovery would face at least three-month delay due to the destructive terrorist attacks.
The International Monetary Fund (IMF) shared the view in its latest report, saying delay was anticipated in the U.S. economic recovery path.
IMF also forecast that the world economy would grow only 2.6 percent this year, a lowest recorded level, due to economic slowdown in the United States, Europe, Japan, and other countries.
The world economy was, actually, approaching a fresh recession period just before the terrorist attacks in the Unites States, IMF indicated in its latest report.
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