NESDC warns Thai exporters to prepare for worst as China’s economy heads downward

The warning is in response to slower-than-expected growth in China, as its real-estate sector suffers severe debt and liquidity problems.

NESDC secretary-general Danucha Pichayanan said earlier this week that though it’s too early to tell how much China’s economy will affect Thailand, it is still worth being cautious.

He was speaking at the launch of Thailand’s economic outlook report for the second quarter.

“There is currently little information on whether or not this problem will eventually lead to an economic crisis. If China experiences an economic downturn, the global economy and the Thai economy will inevitably suffer. This is something that must be supported as well,” he said.

As per the NESDC report, Thailand’s export sector has been slowing down due to global recession and geopolitical uncertainty. As a country that…