Jul 21, 2014

Thailand - AEC to boost Asean bargaining power

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BANGKOK, July 19 (Bernama) -- A world-class economist, Richard Duncan, who formerly worked for the US-based World Bank and chief economist at Singapore's Blackhorse Asset Management, foresees that the formation of the Asean Economic Community (AEC) by the end of 2015 should boost the bargaining power of Asean member countries, including Thailand, Thai News Agency (TNA) reported.

Duncan told journalists in Bangkok on Friday, during his participation in a business seminar, that intra-regional trade and investment between Asean member countries could further expand after the AEC is formed and help ease a global economic slowdown.

Duncan projected that the global economic slowdown should remain over the next 1-2 years and the world economic recovery should then be stimulated by innovations.

The top world economist acknowledged that it should take some time for the immense China's economy to successfully drive the world economy out of the current slowdown although China has been the major driving force for the overall Asian economy so far.

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