U.S.- China Trade Tension on the ASEAN and Thai Economic Outlook

U.S.- China Trade Tension on the ASEAN and Thai Economic Outlook

On September 26 in the AMCHAM Citibank Boardroom, over 35 attendees gathered to hear a briefing by Nalin Chutchotitham, Chief Economist for Thailand and Philippines at Citibank, as she discussed the impact of the U.S. – China trade tensions on both the Thai and global economic outlook.

Nalin began her briefing with key changes happening with the economic growth of Thailand. Compared to previous projections from 2018, before the U.S. – China trade Tension began, the current outlook for growth looks slower than before. Economists are expecting to further adjust their forecasts as more tariffs are anticipated for Chinese exports.

She went on to say that Thailand can expect a flattish export performance going forward with an expectation that the Baht will remain strong until early 2020. Nalin cited previous data regarding ASEAN exports, updated in June, with an expectation that countries would be slower to adjust to the tariffs but have been surprisingly agile. In her research, it was recognized that the MNCs with available capacity are relocating their efforts within ASEAN in order to further deal with the trade tension.

Nalin Chutchotitham’s presentation is available on the AMCHAM Member Portal.

Special thanks to Business Economics Committee Co-Chair, Luca Bernardinetti, for his effort with this event.

Related News / Blog