2,000+ factory closures in Thailand cause economic upheaval due to cheap Chinese imports and industrial competitiveness decline.
Thailand's economy faces upheaval due to over 2,000 factory closures in the past year, impacting its $500 billion economy. Cheap Chinese imports and a slide in industrial competitiveness due to factors like rising energy prices and an aging workforce are major causes. The manufacturing sector, which contributes nearly a quarter of the nation's GDP, is significantly affected.
July 14, 2024
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