Joining BRICs would lead to opportunities for Thailand

Joining the BRICs alliance would present economic opportunities for Thailand, as the alliance, comprising Brazil, Russia, India, China, and South Africa, is enjoying strong negotiating power in trade agreements, according to former finance minister Thirachai Phuvanatnaranubala.

Trade with China was extensive back in the days when the Chinese economy was dominant, Thirachai pointed out, adding that this fell off after Thailand aligned itself with the US after World War II. Now that China’s global influence has grown significantly. Thailand must adjust its foreign relations strategy, lessening dependence on the USA but being cautious to avoid problems with the long-standing US relationship.

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The Nation Reporter