Central bank needs to monitor US-China trade rift closely
The Bank of Thailand says it still needs to monitor the trade conflict between the United States and China closely although the country will be slightly affected. Mr Veerathai Santiprabhob, the central bank governor, said that although the impact of the US China trade conflict on the national economy will be minimal, it still needs to be closely monitored. He said indirect repercussions such as the entry of restricted goods into the local market would directly compete with local suppliers and severely chip away at their market share. Similarly, he said that the situation was also a potential windfall for Thai products that will have reduced competition in both the US and China markets. With regards to US targeting Thailand for alleged exchange rate manipulation, an official explanation is being formulated to clarify Thailand’s position to US officials. Commenting on a proposal by the...
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