[Text/Bloomberg Observer Liu Chenghui] "A large number of products from China entering the market also benefit Thailand's economy." Faced with a "trap" question from the American media host, Thai Foreign Minister马拉维 made such a response.

Maravi gave an interview to Bloomberg Television after the ASEAN Foreign Ministers' Meeting on May 25. He said that Southeast Asian countries should deepen regional and global supply chain integration to gain economies of scale and explore larger markets.

He said that some ASEAN countries have already started cooperation in producing more complex products, such as semiconductors. ASEAN officials indeed see the potential brought by participation in the global supply chain.

"This is key to promoting integration, deepening our relationships, and tightening the integration among ASEAN member states," Maravi said. "We need to share advantages in manufacturing, which means seizing opportunities in the global supply chain together."

Bloomberg's host also mentioned concerns about the impact of cheap Chinese goods. It was reported that a survey targeting CEOs of Thai companies last month showed that nearly 71% of respondents were worried that cheap Chinese products would impact the Thai market, leading to reduced production rates or even closures of local factories.

"A large number of products from China entering the market also benefits the Thai economy because people can buy cheaper products than those made in Thailand," Maravi said. "What I want to say is that we must make efforts to explore and fully recognize the advantages of improving the global supply chain with ASEAN and China."

Maravi interviewed by Bloomberg Television

Maravi said that countries must be able to cooperate with any superpower on security and economic issues, as taking sides on specific issues is not feasible.

He also said that Thailand sees BRICS as a platform for cooperation rather than a political group. Thailand hopes to become a formal member of BRICS but cannot determine the time yet.

In recent years, economic ties between China and Southeast Asia have significantly strengthened. In 2025, it will mark the 50th anniversary of diplomatic relations between China and Thailand and the "Golden 50 Years of Sino-Thai Friendship." Over the past half-century, economic and trade cooperation between China and Thailand has expanded and deepened in scale and scope.

According to Chinese customs statistics, bilateral trade between China and Thailand reached $133.98 billion in 2024. China has been Thailand's largest trading partner for 12 consecutive years, and Thailand is China's third-largest trading partner in ASEAN countries.

Direct investment by Chinese enterprises in Thailand continues to expand, making Thailand a gathering place for Chinese enterprises going global. According to Chinese statistics, the direct investment flow from China to Thailand increased from $407 million in 2015 to $2.018 billion in 2023, and the investment stock rose from $3.44 billion to $12.657 billion.

Data from the Thailand Board of Investment (BOI) shows that from 2018 to 2024, a total of 1,941 projects applied for investment from China, including 810 projects in 2024 with an application investment amount of 174.6 billion Thai baht. The projects cover fields such as electronic components, circuit boards, smart home appliances, data centers, and electric vehicles. China (excluding Hong Kong and Macao) is Thailand's second-largest source of foreign investment.

On the ASEAN side, data from the General Administration of Customs shows that in 2024, ASEAN maintained its position as China's largest trading partner. Measured in US dollars, the total value of trade between China and ASEAN was $982.34 billion, up 7.8%. Among them, exports were $586.52 billion, up 12.0%; imports were $395.81 billion, up 2.0%.

The special meeting of China-ASEAN Economic and Trade Ministers was held online on the 20th, and both sides jointly announced the full completion of the negotiations for the China-ASEAN Free Trade Area 3.0 version. Spokesperson Mao Ning of the Ministry of Foreign Affairs said at a regular press conference on the 23rd that this is a key step toward signing the upgrade protocol for the China-ASEAN Free Trade Area 3.0. The comprehensive completion of the China-ASEAN Free Trade Area 3.0 negotiations sends a strong message of maintaining free trade and open cooperation.

Jeffrey Sachs, professor at Columbia University and renowned economist, said on the 23rd at a forum that in the great power competition between China and the United States, ASEAN should "choose China." He believed that if the United States forces ASEAN to choose sides between China and the United States, ASEAN should obviously "choose its neighbor"—China.

This was his response when asked whether ASEAN could still maintain strategic neutrality.

"The United States should not try to force ASEAN to make a choice, as it is not only unfair but also, if ASEAN is forced to choose, it would obviously choose its neighbor—China," Sachs explained. "This is because ASEAN's economic ties with China are deeply intertwined, and breaking away from this relationship is unimaginable."

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Original text: https://www.toutiao.com/article/7508667045001609778/

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