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By APD writer Juicy Chan
BANGKOK, April 8 (APD) -- The trade war between the world's two top economic superpowers will be temporary and investment will be an economic solution for the tension, Surakiat Sthirathai, former Thai Deputy Prime Minister said in an interview with APD on Saturday.
Surakiat Sathirathai was much concerned that the United States is acting bilaterally about a particular issue, while he commended that China is considering sending the
matter to the World Trade Organization(WTO).
U.S. President Donald Trump on Thursday threatened to slap tariffs on 100 billion U.S. dollars of imports from China after his administration earlier this week proposed a 25 percent tariff on 1,300 Chinese industrial and other products, drawing strong opposition from China and threatening America's own economic growth.
Surakiat said the trade battle has reminded him of what happened between US and Japan in about three decades ago, when there was a rise of protectionism in the US against Japanese goods.
He looked it as a political message to Japan that "we want you to invest in America", saying when after Japan established their companies in U.S, creating jobs and income, the sentiment of protectionism faded away.
"For a bigger picture, that is the same message from the United Sates that 'We want China to invest in United State, so invest in America more'", said the former deputy prime minister who believes the trade war would be temporary and investment from China will quiet out the war.
The tit-for-tat trade fight has obviously brought impact on Asia stock market, resulting in fears and hesitations of businessmen and international investors, said Surakiat, the current Chairman of Asia Peace and Reconciliation Council.
He added that the trade war affects the supply chain between ASEAN and China, which has been an important factor for the economy of Thailand and a key driver to keep ASEAN economy growing in the past ten years.
(ASIA PACIFIC DAILY)
