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The deal between the China and the Association of Southeast Asian Nation(ASEAN) has great capability in growth to boost world financial system, which faces challenges and uncertainties, as stated by Wichor Kinchong Choi, senior vice president of Thailand’s Kasikorn Bank. The ASEAN became China’s second biggest partner in the first half of 2019,overtaking the United states for the first time since 1997. The China’s civilization data stated that China’s trade with ASEAN raise 10.5 percent to 1.98 trillion yuan(288billion U.S dollars) in the first half of 2019, overtaking the United States for the first time since 1997.
The China’s Custom data stated that China’s trade with ASEAN raise 10.5 percent to 1.98 trillion yuan (288 billion U.S dollars) in the first half of this year as China’s trade with the U.S dropped 9 percent to 1.75 trillion yuan(254 billion U.S dollars). In a recent interview with Xinhua, Wichai stated that the 10member states of ASEAN have plentiful natural resources and total population of some 700 million, the prospective of trade and economic cooperation is very huge. The neighbours, China and ASEAN have set aside close relations and ASEAN market has become more and probably more important to China and vice versa, the senior vice president stated.
He strongly whispered that the China as the second largest economy in the world and ASEAN, an emerging market of great potential, could oblige closely to become a main driving force of the Sustainable growth of the World economy. The Trade between China is the second biggest economy in the world and ASEAN, an growing market of great potential, could oblige to become a major motivating force of the sustainable enlargement of the world economy. The financial trade between China and Thailand kept mounting since 1998. In 1998, the Thailand exported goods of 1.766 billion U.S. dollars to China, while importing goods of 1.801 billion U.S dollars from China.
The Bank executive stated that Thai and Chinese economies are corresponding to each other, particularly under the Belt and Road program proposed by China and Thailand 4.0 policy and Eastern Economic Corridor project put onward by Thailand. More and more Chinese companies came to Thailand to build factories, for business. They Fetch new technology, experience and investment while thai companies motivated by Thai government, Kept discovering the Chinese market, Wichai stated.