China, Thailand sign high-speed train, trade and currency agreements

Discussion in 'China' started by cir, Dec 23, 2011.

  1. cir

    cir Senior Member Senior Member

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    Dec 22, 2011, 12:34 GMT

    Bangkok - Chinese Vice President Xi Jinping on Thursday presided over the signing of agreements with Thailand on a high-speed train project and a currency swap arrangement to facilitate bilateral trade.

    Xi, who is expected to become Chinese president next year, met with Thai Prime Minister Yingluck Shinawatra Thursday evening.

    The two leaders witnessed the signing of a treaty on prisoner exchanges and an agreement to jointly develop a high-speed train line between Bangkok and Chiang Mai in northern Thailand, to link up with mainland south-east Asia, said government spokeswoman Thitima Chaisaeng.

    They were also present at the signing of a bilateral currency swap agreement between the Bank of Thailand and the Chinese central bank, she said.

    The currency swap agreement will make it easier for Thai traders to access Chinese yuan to conduct trade.

    'The main problem with making the yuan an international currency is that its liquidity is limited,' said Charl Kaengchon, chief economist of the Kasikorn Research Institute.

    Under the swap arrangement, the Bank of Thailand will be provided yuan from the Chinese central bank, which will then lend it to Thai commercial banks for them to lend to traders.

    'It's an important first step for the yuan as an international currency,' said Charl. 'But in the future it's really up to the policy of the Chinese to liberalize capital accounts to make it easier for people to move money out of China.'

    China is currently Thailand's leading single country trade partner, accounting for 11 per cent of its export this year.

    The European Union and the Association of South-East Asian Nations (ASEAN) provide bigger cluster markets for Thai exports.

    Thailand's chief exports to China are rubber, tapioca and rice.

    LEAD: China, Thailand sign high-speed train, trade agreements - Monsters and Critics
     
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  3. cir

    cir Senior Member Senior Member

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    China, govt sign currency swap deal
    Published: 23/12/2011 at 12:00 AM
    Newspaper section: News Tweet

    China and Thailand yesterday signed two historic deals plus four other agreements, including an US$11 billion currency swap agreement and a high-speed train project.

    [​IMG]
    Prime Minister Yingluck Shinawatra and Chinese Vice President Xi Jinping inspect an honour guard at Government House yesterday. APICHART JINAKUL


    The agreements were signed by the visiting Chinese Vice President Xi Jinping and Prime Minister Yingluck Shinawatra.

    The three-year currency swap agreement, which is equivalent to 70 billion yuan, will allow Thai exporters and their Chinese counterparts to settle their trade deals in their respective local currencies, instead of relying on the US dollar.

    The agreement aims at encouraging more trade and investment between the countries, government spokeswoman Thitima Chaisang said.

    The high-speed train project, to be developed by China, will run from Bangkok to Chiang Mai with other routes to be added later, she said.

    The memo of understanding signed yesterday will see improved Thailand-China relations, with both countries agreeing to improve water management systems, adopt clean and renewable energy research with an emphasis on rural Thailand, and education especially in technology.

    Ms Yingluck aims to increase trade with China by 20% a year for the next five years, with a 15% boost in renewable energy investment, and 20% in tourism.

    Mrs Thitima said China would be handing over 100 tablet computers today and 500 more soon after.

    She said the prime minister also took the opportunity to thank China for being the first country to offer aid during the recent floods. Mr Xi responded by applauding the government's achievement in combating the flood.

    Bangkok Post : China, govt sign currency swap deal
     
    Last edited: Dec 23, 2011
  4. trackwhack

    trackwhack Tihar Jail Banned

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    You want to kill some Thai's too now with those high speed toys? :)

    Anyway, Xingping looks well-fed and will complement the great successor Kim Jong Un. Brothers separated at birth?
     
  5. W.G.Ewald

    W.G.Ewald Defence Professionals/ DFI member of 2 Defence Professionals

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    I was having a look at Prime Minister Yingluck Shinawatra, myself. Glass half full and all that, wot?
     
  6. asianobserve

    asianobserve Elite Member Elite Member

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    Shinawatra doing politics... Military, opposition and Monarchy for US while they are trying to spoil the policy. This is what you call power tripping.
     
  7. Ray

    Ray The Chairman Defence Professionals Moderator

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    This was in the offing and it is a good thing that things are happening to make Thailand look beyond its traditional infrastructure.

    Economic interests are of vital importance.
     
  8. asianobserve

    asianobserve Elite Member Elite Member

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    I think the unsaid part of the coup against Taksin is that it was initiated by the opposition and monarchy and eagerly supported by the military and approved by the US. Now Taksin is getting back at the US since obviously with the victory of his party he has validated that he is the real political power in Thailand. (My conspiracy theory on the matter)

    We may see a tit-for-tat actions in Thailand more reminiscent of the 70s and 80s... Bad for Thai economy.
     
  9. cir

    cir Senior Member Senior Member

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    Listen dude:

    (1)It was a human error
    (2)It was NOT a high speed train。It was a 200-kmh class train running on an ordinary track
    (3)It is not that people get killed by trains everyday in China while in Mumbai alone the express trains kill 8-9 people PER DAY
     
  10. hbogyt

    hbogyt Regular Member

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    The South China Sea dispute acts as a great platform for economic integration of the South East Asian nations and China and a way for China to exert economic influence. This shows that there is no intention among the disputing nations to use force.

    Now, why did I type all that on-topic comment? It is to camouflage the following off-topic rant.

    Yingluck is gorgeous rivaling the former Prime Minister of Ukraine, Yulia Tymoshenko. Of course they would be no match for those who be babes for a living.
     
  11. Ray

    Ray The Chairman Defence Professionals Moderator

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    Thank you for the information.

    I am right now in Mumbai. I will not travel by train here because of this very timely and detailed caution from China.
     
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  12. cir

    cir Senior Member Senior Member

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    Good for you!!

    Killer Mumbai locals claimed 40k lives in 10 yrs - Mumbai - DNA

    Killer Mumbai locals claimed 40k lives in 10 yrs
    Friday, Dec 23, 2011, 9:45 IST
    By Rajendra Aklekar

    Mumbai’s trains that ferry tens of thousands of passengers daily are indeed the killers. In a shocking revelation, nearly 40,000 people have died on city’s tracks and an equal number injured in the last 10 years. The alarming figures of deaths on track were revealed after RTI activist Chetan Kothari sought details from the Government Railway Police (GRP).

    The data from the GRP has revealed that on an average more than 3,500 people die on tracks every year in various mishaps like falling in gap of train, dashing to pole, crossing lines and fell down from running train. The death toll between 2002 and 2011 (Nov) has reached 36,152.

    The number of injured is also in the same range with about 4,000 commuters getting injured and the total number of injured is 36,688.

    Among the various incidents, falling from train and line crossing are the top killers, followed by dashing to railway pole and falling in gap of platforms.

    City activists have been fighting a battle with the railways to get ambulances and medical facilities parked at railway stations.

    Activist Samir Zaveri, who himself lost his two legs in a train accident, had approached the court for better medical facilities at stations forced railways to put ambulances at stations and upgrade medical facilities at stations following court orders.

    The railways have also set up a medical room at Dadar to give first aid to injured commuters.

    A transport upgrade project to improve and increase the number of trains in the city has also been launched to cut down crowds in trains.
     
    Last edited: Dec 23, 2011
  13. Ray

    Ray The Chairman Defence Professionals Moderator

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    And that makes it a daily occurrence?

    If you want to know how many die in China because of poor infrastructure one could trot out the figures. One could start with the callous mining accidents to start with!

    And ofcourse the number who immolate themselves or are killed in the 1000s of riots that occur in China!
     
  14. ice berg

    ice berg Senior Member Senior Member

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    Sigh, we started with this:
    China, Thailand sign high-speed train, trade and currency agreements

    Ended up with another troll thread about safety records/riots of China vs India.

    Another typical day of China vs India on DFI.:thumb:
     
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  15. cir

    cir Senior Member Senior Member

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    How many?

    We are talking about people dying of train accidents in a single city for god's sake!!!
     
  16. amoy

    amoy Senior Member Senior Member

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    I saw a Thai minister replied to a journalist : China is in the neighborhood, not an ordinary neighbor, like a relative. But America is far far away.

    Think abt a high %% of Thais of Chinese descent, including PM Yingluck , and Taksin and many of commercial prominence

    The currency swap deal will give an impetus to trade in Yuan. Now Sino-ASEAN trade is still fast growing compared to trade lanes to the US and EU which are losing steam
     
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  17. nimo_cn

    nimo_cn Senior Member Senior Member

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    The plan has been mulled for quite a long time, it was said that China is planning to build a HSR linking Singapore and China. Now with Thailand joining in the plan, one more step closer to the goal.
     
  18. Rahul92

    Rahul92 Senior Member Senior Member

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    Thailand huh so now let India come to an agreement with cambodia
     
  19. nimo_cn

    nimo_cn Senior Member Senior Member

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    Indeed, depends on what you can offer.
     
  20. redragon

    redragon Regular Member

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    No complain from China if you can.
     

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