(C) Economic Affairs January 5
The World Bank forecasts that the world economy will grow by 4 percent this year. The outlook remains uncertain. The global recovery will be worsened if the pandemic accelerates or the inoculation is delayed. The Chinese economy will expand by 7.9 percent this year.
January 8
(1) The central banks of Thailand and China have renewed bilateral currency swap arrangements for 5 years, starting from December 22, 2020. (2) The IMF projects China's economy to grow by 7.9 percent this year as the domestic Covid-19 outbreaks remain under control and economic activity has become normal.
January 10
(1) China and Myanmar signed a memorandum of understanding (MoU) to conduct a feasibility study of the Mandalay-Kyaukphyu railway, according to the Chinese embassy in Myanmar. (2) China’s State Council Information Office issues a white paper entitled “China’s International Development Cooperation in the New Era.” It explains China’s views on international development cooperation in the new era, actions, and plans for the future.
January 14
(1) China’s General Administration of Customs (GAC) reports that the country’s foreign trade grew 1.9 percent year on year in 2020. Exports increased 4 percent year on year, while imports declined 0.7 percent. ASEAN becomes China’s largest trading partner for the first time in 2020. The trade volumes reached US$731.9 billion, an increase of 7 percent year on year. China’s top 5 trading partners are ASEAN, the EU, the US, Japan, and South Korea. Trade with economies related to the BRI grew 1 percent year on year. (2) Thailand's National Tourism Policy Committee approves the proposal of the Tourism and Sports Ministry to collect a 300-baht fee from every tourist 48 The Chronology
