31 Dec 2021
International Economy
ความตกลงหุ้นส่วนทางเศรษฐกิจระดับภูมิภาค (Regional Comprehensive Economic Partnership: RCEP) นับเป็นการเปิดเสรีการค้ากับกลุ่มการค้าที่มีขนาดใหญ่ที่สุดในโลก โดยจะมีผลบังคับใช้ในวันที่ 1 มกราคม 2565 นี้ หลังเจรจามายาวนานถึงเกือบทศวรรษ ซึ่งการเปิดเสรีการค้ากับ 15 ชาติสมาชิกจะช่วยให้การค้าระหว่างชาติสมาช... Read more
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16 Dec 2021
At the latest Federal Open Market Committee (FOMC) meeting, the US Federal Reserve (Fed) announced that it will double the rate at which it reduces monthy asset purchases (QE tapering program), meaning that the process will end by March 2022. The Fed also signaled three rate hikes next year to cope ... Read more
14 Dec 2021
Amid rising inflationary pressures, the Fed could increase the pace of its QE tapering and raise the policy rate much sooner than previously expected. The United States’ inflation rate continues to surge, with the headline inflation rate, gauged by the consumer price index soaring to a new high in a... Read more
2 Dec 2021
กระแส ESG แรงกดดันทางการค้าระลอกใหม่ท้าทายความสามารถในการแข่งขันของสินค้าไทย โดยที่ผ่านมา EU นำมาตรการด้านสิ่งแวดล้อมออกมาใช้ก่อนประเทศอื่นๆ ไม่ว่าจะเป็นการเก็บภาษีคาร์บอนกับธุรกิจในประเทศ การลดการใช้งานพลาสติก ล่าสุดกำลังจะเก็บภาษีคาร์บอนกับสินค้านำเข้าจากต่างประเทศในอีก 1 ปีข้างหน้า (ปี 2566) นอกจ... Read more
1 Nov 2021
The Cabinet Meeting on October 12, 2021, discussed the “Comprehensive and Progressive Agreement for Trans-Pacific Partnership” (CPTPP). The agreement garnered renewed attention in September after China expressed interest in becoming a member. Taiwan followed suit in submitting its application, while... Read more
30 Oct 2021
The upcoming Federal Open Market Committee (FOM0C) meeting, November 2-3, 2021, is seen as an important policy gathering because the Fed is expected to officially announce its QE tapering program after sending signals that it would begin to do so by the end of 2021 and complete the process by mid-20... Read more
18 Oct 2021
China’s economy in 3Q21 faced a wide range of economic issues, whereas China’s stimulus packages remain rather limited. As a result, the country’s economic growth in 3Q21 slowed to 4.9 percent YoY, following year-on-year growth of 18.3 percent in 1Q21 and 7.9 percent in 2Q21. Details are as follows:... Read more
27 Sep 2021
Over the first eight months of 2021, Thailand’s cross-border trade including transit trade saw a progressively brighter outlook, thanks to last year’s low base, higher purchasing power and energy prices. Export value during the period reached THB 682.184 billion, rising by 38 percent YoY,. This grow... Read more
22 Sep 2021
Globally, the COVID-19 crisis has begun to ease, particularly in developed countries. As a result, their economies have substantially bounced back to pre-pandemic levels. Additionally, their labor markets have almost returned to normalcy. Concurrently, signs of increased inflationary pressures have ... Read more
21 Sep 2021
We, at KResearch, asssess that the Fed will continue to maintain its policy rate within a range of 0.0-0.25 percent, and may not announce its QE tapering program at the upcoming Federal Open Market Committee (FOMC) meeting, slated for September 21-22, 2021. The US central bank may also keep its view... Read more
7 Sep 2021
India is an interesting country. Aside from its economic growth that ranks among the highest in the world, it was the fifth-largest FDI recipient in 2020. KResearch perceives that future investments especially in e-commerce and ICT industries, and the manufacturing of technological devices like smar... Read more
13 Aug 2021
Although China’s economic stimulus measures post 2008 global financial crisis were successful in reviving its economic growth to at least 6 percent p.a. on average during the past decade, such measures have created persistent corporate debt. China’s corporate debt surged from 94 percent of GDP in 20... Read more
26 Jul 2021
KResearch assesses that the Federal Reserve (Fed) will likely keep its policy rate steady at 0.0-0.25 percent at the upcoming Federal Open Market Committee (FOMC) meeting, July 27-28, 2021, as the US labor market has yet to fully bounce back, and the number of unemployed remains substainally higher ... Read more
23 Jul 2021
The Tokyo Olympic Games, which had originally been scheduled for 2020, were postponed to 2021. Despite calls for it to be cancelled because of concerns that the COVID-19 there may get much worse, and the Olympics may bring more risks than economic benefits, the Japanese government finally confirmed ... Read more
20 Jul 2021
Since China joined the World Trade Organization (WTO) in 2001, its economy has continuously seen accelerated growth. China’s GDP reached USD 14.72 trillion in 2020, resulting in the narrowing of the economic gap between China and the United States. Meanwhile, China’s bargaining power has significan... Read more
16 Jul 2021
In the latest 14th plan for national and economic development, China has set a target to become a carbon -free nation by 2060 or over the next four decades. KResearch, however, is of the view that it will take China some time to achieve that target as its carbon emissions are growing unabated post-C... Read more
15 Jun 2021
KResearch has assessed that the US Federal Reserve (Fed) will maintain its policy rate at 0.0-0.25 percent during its upcoming monetary policy meeting on June 15-16, 2021, despite the rising inflation. The accelerating inflation can be primarily attributed to the resumption of economic activities af... Read more
27 May 2021
China’s economic role in the CLMV has substantially increased over the past years, particularly in trade via a number of strategies, aimed at building its economic influence and physical connectivity, such as transportation infrastructure projects and special economic zones under its Belt and Road I... Read more
13 May 2021
US inflation surged above market forecasts in April 2021. Headline inflation rose 4.2 percent YoY, its highest level since September 2008. Meanwhile, core inflation reached 3.0 percent YoY. Such increases were driven by improving domestic demand following accelerated vaccination efforts and continuo... Read more
11 May 2021
Since Joe Biden’s presidential inauguration, a slew of stimulus measures have been expedited to rejuvenate the US economy, which has been severely hit by the COVID-19 pandemic. Numerous stringent packages have been issued to curb the outbreaks, as well as accelerated COVID-19 vaccination efforts. Th... Read more
27 Apr 2021
It is projected that the global economy will record a solid recovery in post-pandemic 2021 as reflected by the International Monetary Fund’s decision to revise upward its 2021 growth forecast for the global economy to 6.0 percent from the prior estimate of 5.5 percent; the recovery will be led by la... Read more
26 Apr 2021
KResearch projects that the Federal Reserve (Fed) will maintain its policy rate within the range of 0.0-0.25 percent at its meeting on April 27-28, 2021. While the US economy has shown signs of recovery following expedited vaccination efforts, with business activities able to return to normal amid t... Read more
16 Apr 2021
China’s economy in 1Q21 grew 18.3 percent YoY, sharply higher than 4Q20 which saw 6.5 percent growth YoY, setting the highest quarterly year-on-year growth in 29 years since China began to publish such data in 1992. This surge was primarily attributed to a low base in 1Q20, during which China’s ec... Read more
12 Apr 2021
Amid positive signs seen in the global economic recovery due to concerted efforts of many countries in combating the COVID-19 pandemic via rolling out COVID-19 vaccines, which have allowed them to ease lockdown restrictions, Myanmar is experiencing political turmoil at home. The country’s image in t... Read more
31 Mar 2021
Vietnam’s economy in 1Q21 grew 4.48 percent YoY, below expectations, owing to the impact of COVID-19 outbreak on consumption and the service sector in early 2021. As a consequence of the outbreaks, the Vietnamese government issued measures to temporarily shut down businesses including restaurants,... Read more
23 Mar 2021
Turkey’s lira encountered a massive selloff when the Asian stock market opened on Monday (March 22, 2021). The lira depreciated beyond 8.0000, hitting its lowest level in four months at 8.4706 lira per dollar, or an estimated drop of 15 percent from the closing price on Friday (March 19). This plung... Read more
22 Mar 2021
In the government policy statement reported at the National People’s Congress held in early March 2021, China’s Premier, Li Keqiang, announced that China would target an economic growth of more than 6 percent p.a. in 2021. KResearch is of the view that the setting of such a relatively low economic g... Read more
16 Mar 2021
KResearch assesses that the US Federal Reserve (Fed) will likely maintain its policy rate at 0.0-0.25 percent during the upcoming FOMC meeting that is slated for March 16-17, 2021. Although the US economy exhibits signs of recovery, it may take a while to fully bounce back, thus prompting the Fed to... Read more
3 Feb 2021
More dynamic relationships between Myanmar and Western powers were imperative in the development of Myanmar’s economy over the past decade. As a result, it has reported relatively impressive economic growth on the back of increased foreign investment, thus helping bolster its exports and allowing My... Read more
25 Jan 2021
KResearch projects that the Federal Reserve (Fed) will keep the US policy rate within the range of 0.00-0.25 percent, without announcing any additional monetary easing tools, at the upcoming Federal Open Market Committee (FOMC) meeting to be held on January 26-27, 2021. While the Fed is expected to ... Read more
18 Jan 2021
The economy of China in 4Q20 grew by 6.5 percent YoY, amounting to full-year growth that exceeded the projection, at 2.3 percent YoY. The figures reflect China’s success in efficiently controlling the COVID-19 pandemic and implementing both monetary and fiscal stimuli in a timely and effective manne... Read more
28 Dec 2020
Four years have passed since the United Kingdom held a referendum in which the majority voted to withdraw from the European Union (EU), on June 23, 2016. The UK and the EU have finally concluded their negotiations over the Brexit deal prior to the end of the transition period on December 31, 2020. G... Read more
22 Dec 2020
In the latest currency manipulation report published by the US Department of the Treasury in December 2020, Vietnam was designated as a currency manipulator because it fulfilled three benchmarks set by the US. These include an intervention in the currency-exchange market as evidenced by Vietnam’s ne... Read more
9 Dec 2020
KResearch projects that the Federal Reserve (Fed) will keep the US policy rate within the range of 0.00-0.25%, and it is unlikely that the Fed will announce any additional tools for quantitative easing (QE) at the Federal Open Market Committee (FOMC) meeting to be held on December 15-16, 2020. ... Read more
19 Nov 2020
Presently, Thailand is already a member of the Regional Comprehensive Economic Partnership (RCEP), which is the world’s largest free trade agreement (FTA). This is most welcome news because the RCEP will likely help enhance Thailand’s competitiveness over the short term, although the country’s long-... Read more
13 Nov 2020
The Regional Comprehensive Economic Partnership, or RCEP, comprises 15 member states, namely the 10 ASEAN countries and their Plus 5 which consists of China, Japan, South Korea, Australia and New Zealand. RCEP member states were finally able to wrap up their longstanding negotiations, which had been... Read more
4 Nov 2020
Preliminarily, products and businesses with ties to the US market will likely benefit from this historic election after braving the COVID-19 crisis this year, setting them on the path towards economic recovery in 2021. Indeed, the degree of recovery depends on the policies under the new president wh... Read more
3 Nov 2020
Various polls and projections all show that Joe Biden, the democratic presidential candidate, will win the 2020 US presidential election on November 3, 2020. Biden’s victory and the Democrats’ domination in both the House of Representatives and Senate would be a boon for the overall US economy as th... Read more
30 Oct 2020
We at KResearch assess that the US Federal Reserve (Fed) will likely keep its policy rate steady at 0.0-0.25 percent during its FOMC meeting slated for November 4-5, 2020 because the US economy has begun to rebound, thus lessening its pressure to cut the Fed Funds rate further. In addition, the Fed ... Read more
22 Oct 2020
Special attention is being paid to the 2020 US presidential election, in particular visions and policy guidelines of presidential candidates to revive the US economy as the country is battling the coronavirus (COVID-19) pandemic. KResearch is of the view that if Joe Biden, who is leading in the US e... Read more
19 Oct 2020
The Chinese economy in 3Q20 grew 4.9 percent YoY, continuing the positive trend from 2Q20, which saw 3.2 percent growth YoY. This expansion can be attributed to the gradual recovery experienced by the private sector, particularly domestic tourism activities that have only recently regained their vi... Read more
23 Sep 2020
In September 2020, China sent a positive signal in regard to its economic development plan that laid out the country’s strategies for the next five years, from 2021 through 2025. Of particular interest is China’s return to stockpiling commodities with an emphasis on food security. Such actions will ... Read more
14 Sep 2020
KResearch has assessed that the Federal Reserve (Fed) will continue to keep interest rates in a range of 0.0-0.25 percent at the next Federal Open Market Committee (FOMC) meeting which will be held on September 15-16, as the Fed is thought to have already used all the tools necessary to sustain the ... Read more
10 Sep 2020
Ever since the results of the EU Referendum on June 23, 2016, led to the planned withdrawal of the United Kingdom from the EU, the event that all parties concerned have hoped for is a negotiation to finalize the economic and trade relations between the UK and the EU going forward. However, after th... Read more
2 Sep 2020
Mr. Jerome Powell, the US Federal Reserve chairman, announced a major monetary policy shift at the latest Jackson Hole conference (August 27, 2020). The Federal Open Market Committee (FOMC) reached a unanimous decision in approving longer-run goals and monetary policy strategy adjustment. The shift ... Read more
24 Jul 2020
KResearch projects that the Fed will continue to maintain the interest rate at 0.0-0.25 percent at its upcoming monetary policy meeting on July 28-29, 2020. The measures that have already been taken should be sufficient to sustain the US economy, which is weakening and will likely take a long time t... Read more
17 Jul 2020
Over the course of the past two years that have been dominated by the US-China trade war, the US has been unable to reduce its trade deficit with China to the targeted level. Shifting the focus to Thailand, Thai export businesses incurred a net loss of USD 1.1 billion in related products. ... Read more
The Chinese economy reverted to growth of 3.2 percent YoY in 2Q20, versus the 6.8 percent YoY contraction reported for 1Q20, thanks to the government’s effective measures in combating the coronavirus (COVID-19) pandemic, thus allowing economic activity in the country to return to normalcy. Its indus... Read more
9 Jun 2020
The US economy continues to experience increased risk despite recovering signs seen after Washington began easing lockdown measures in May 2020. The US Purchasing Managers’ Index (PMI) came in at 43.1 in May, rising over the 41.5 reported for April while unemployment slipped to 13.3 percent in May, ... Read more
7 May 2020
A majority of ASEAN member states overall may experience fragile supply chains as a result of their dependency on imports of intermediate products from sources that are highly competitive in terms of costs, namely China, plus technologies from countries that own advanced technologies, such as South ... Read more
27 Apr 2020
The US economy is experiencing markedly elevated risk from the spread of COVID-19. The International Monetary Fund (IMF) projects that the US economy in 2020 may contract by 5.9 percent, a decline comparable in severity to that of the Great Depression in 1930. The US economy severely contracted afte... Read more
22 Apr 2020
The COVID-19 pandemic is having a negative impact on CLMV economies through their dependency on foreign-sourced revenue from tourism and exports. Countries which are heavily dependent on foreign revenue are facing more negative effects during this crisis.... Read more
17 Apr 2020
The Chinese economy contracted by 6.8 percent (YoY) in 1Q20, marking the first time that the Chinese economy has experienced a contraction since statistical reports began in 1992. The main reason for this phenomenon is the stringent COVID-19 disease control and prevention measures issued by the Chin... Read more
3 Apr 2020
The novel coronavirus or COVID-19 pandemic continues to grow in severity, with most parts of the world seeing no signs of easing or control of viral spread in the near future. The pandemic has plunged the world economy into a state of higher negative risk, as it enters a recession this year. Governm... Read more
4 Mar 2020
The Federal Reserve (Fed) trimmed its policy rate by 0.50 percent to 1.00-1.25 percent at an emergency meeting, March 3, 2020. The move suggests that the Fed has a more “negative” view towards the impact of the COVID-19 on household and business spending, plus the US economy overall, prompting it to... Read more