Transcript of the above video: 

As the title of this video suggests, we are discussing so-called dumping into the Chinese market. What are we talking about here?

I thought of making this video after reading a recent article from the Thai Examiner, that is thaiexaminer.com, the article is titled: Business wants the government to get tougher with China as dumping expands, wiping out Thai firms. Quoting directly: "The Vice Chairman of the Federation of Thai Industries (FTI) has raised the alarm about a giant online retailer launched in Thailand. The umbrella body for Thai Industry is growing increasingly worried at the trend which has seen Chinese dumping of excess products into the Thai market. It is coming at a time when Thailand's manufacturing output continues to decline over the past twenty months or so. Thai manufacturing output is falling while new business registrations are down. In response, Thailand has reinstated VAT on all imports and is deploying quality inspections. However, business leaders say it is simply not enough. In short, they are calling for more robust action against China from the Government. "The arrival of new e-commerce platforms will intensify competition in the Thai market as cheap Chinese imports are expected to increase," he warned. Mr. Apichit speaks for the country's leading industry body. He told the Government that Thai firms were in danger." Quoting further: "Indonesia recently raised import tariffs on Chinese garments by 200%. However, it came too late. Previously, the country had lost 49,000 jobs." Wow! Quoting further: "In short, the problem is multifaceted and is linked to China's ailing economy which has been reeling from ongoing US trade tariffs. In China, a collapsing real estate sector and nervous consumer disposition have led to a lack of demand. Thailand is also experiencing this barrier in relation to the drive to attract Chinese tourists to the Kingdom."

Now in the past I have discussed this a little bit on other videos. Thailand kind of has this constant balance economically between dealing with maintaining tourism and then the export sector. So it always seems to me like from year to year, tourism is sort of up and exports are sort of down and then the next year - we saw this a lot during COVID - exports were solid. People kind of forget this that a lot of people were sitting at home, they were buying things from online and a lot of it was being routed not only from China but from Thailand as well as other places in Southeast and East Asia but the export sector in Thailand at that time it is my understanding was not that bad; it was doing all right. Now we have sort of come out of that. People aren't sitting around at home using stimulus money basically to buy stuff online and now we are seeing some reverberations economically in terms of the manufacturers of such goods. Meanwhile it looks like China is "dumping". That is where basically one country will, the term was derived after it was alleged that Japan was basically going into the US market with cars and dumping them onto the US market very cheaply. China coming to Thailand and dumping cheap products onto the Thai market can have a tremendous negative ripple effect on the overall Thai economy so I can see why the FTI is particularly concerned about this. 

It's interesting, we are kind of keeping an eye on this and we will certainly keep people updated on this channel as the situation evolves.