Export shift downplays old standbys

TRADE

Published: 7 Feb 2013 at 00.00
Newspaper section: Business

The government is vowing to increase exports to "dynamic emerging markets" from 48% of the country's total to 55% over the next three years in a bid to end reliance on traditional destinations such as Europe, Japan and the US.

Srirat Rastapana, director-general of the International Trade Department, said Thailand's international trade structure has completely changed, with China, Asean, Latin America, Africa, India and the Middle East contributing more to Thai exports.

In 1997, Thailand relied heavily on Japan, Europe and the US, which together accounted for 50.5% of the country's shipments.

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boons
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Discussion 1 : 07 Feb 2013 at 08.511
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Just think about this for a minute: Emerging markets imports to replace Europe and US imports? That will of course appear to work as long as there is an expanding bubble in neighboring ASEAN markets. But the natural level of demand from Thailand's emerging markets trading partners pales in comparison to Europe and US demand. Ultimately, this is a recipe for a collapse just a few years out. Shift reliance from traditional export markets to new export markets undergoing unsustainable growth? In other words, shift reliance to something unsustainable. We already know how this plays out.
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Export shift downplays old standbys | Bangkok Post: business