Thai exports are rebounding but huge trade deficit with China poses a threat

23 Sept 06:43 Key points summarised by AI

Thai exports surged 10% year-on-year in January, marking six consecutive months of growth and significantly improving the country's economic outlook for 2024.
Despite overall export growth, Thailand faces an alarming and escalating trade deficit with China, reaching $4.6 billion in January alone due to a flood of cheap imports.
Local manufacturers are increasingly concerned that inexpensive Chinese products are undermining domestic small and medium-sized industries and threatening local employment.
Prime Minister Srettha Thavisin has acknowledged key factors contributing to the influx of cheap Chinese goods, including tax evasion, exploitation of free trade agreement loopholes, and smuggling, and has ordered government agencies to address these issues.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.