For many countries in Southeast Asia, Chinese investment and tourism are key to their economies. However, cheap low-quality Chinese products that are flooding markets across the region are also raising concerns about how they are undercutting local businesses, experts say.
That is forcing countries like Thailand to find ways to combat onslaught of low-priced goods.
Last year, bilateral trade between Thailand and China was more than $126 billion, with direct Chinese foreign investment heavily contributing to the Thai economy.
Three of Thailand’s main economic industries are manufacturing, agriculture and services. But manufacturing has seen a decline, with 2,000 factories closing in 2023, leading to thousands of jobs lost, according to data from the Department of Industrial Works.
