BANGKOK – News agency Bloomberg has again ranked Thailand as the least miserable country economy on its World’s Most Miserable Economy index.
Bloomberg.com has released its index where Thailand remains the least miserable economy with a score of 2.1.
Other less miserable counties, which are those with the lowest scores on this index, are Switzerland, Japan, Taiwan, Malaysia, Czech Republic, Hong Kong, Israel,and South Korea. Meanwhile, the country with the most miserable economy goes to Venezuela.
Bloomberg’s World’s Most Miserable Economy index is calculated based on the inflation and unemployment rates. The index released this year is based on forecasts by economists, while the last year scores are based on actual data.
Meanwhile, The trade war between China and the United States has led to an increased US import tax of 25 percent which affects global trade and Thai exports to the US. The Ministry of Commerce has devised a solution to the problem by seeking enhanced cooperation between ASEAN and China.
The Trade Negotiations Department representative Oramon Sapthaweetham said today that Thailand is hosting a meeting of the joint committee on supervising operations under the 12th ASEAN-China Free Trade Agreement (FTA) and other related meetings from May 20-22, 2019.
The meeting will discuss important issues such as upgrading the ASEAN-China FTA, especially reducing or canceling tariffs on products that have not yet been liberalized which account for about 10 percent of all products.
China was the number one trade partner of ASEAN in 2017 with a trading value of over 400 billion US dollars. ASEAN’s exports to China are valued at more than 180 billion US dollars, while the bloc imports products worth more than 250 billion US dollars from China.