China to dominate CLMV as Thailand set to lose out
China is expected to dominate the CLMV market, with Thailand estimated to lose as much as 187 billion baht by 2022 as Cambodia, Laos, Myanmar and Vietnam are inundated with Chinese goods.
According to Aat Pisanwanich, director of the Center for International Trade Studies at the University of the Thai Chamber of Commerce, a study of trade and investment impacts on Thailand and Asean from Chinese products in CLMV markets found that China has played an important role in trade and export volume in the last 15 years — both before and after the Asean Economic Community (AEC) took effect in 2015.
Phusadee Arunmas
