Discover Thai business opportunities and the changes in economic direction from the 2020 United State presidential election.

Sept. 14, 2020


    

    2020 United States presidential election will be held on 3 November 2020 which decides whether president Trump will remain in the white house or not. This year, The main candidates' election are President Trump from the Republicans and Joe Biden from the Democrats. During COVID-19 and the economic crisis, Both candidates are suffered from the combination of handling the situation because this election can define the future of the U.S. in the next 4 years.

 

    From the current COVID-19 situation in the U.S., there are 6.5 million cases and 190 thousand deaths following with economic crisis and unemployment problems. Both political parties are challenged with the crisis to implement their policies to get votes from the millions of people. The China-US trade war is the main economic topic that both nominees have completely different perspectives. Protectionism and The U.S.- China trade war under Trump seem to be extended if Trump wins the election. While Joe Biden advocates pro-free trade and increasing the minimum wage policy from 7.25 U.S. dollars to 15 U.S dollars that can gain the vote from black people.


    Race and racial inequality are another social issue in the U.S. From the black lives matter protest that demanded justice for black people. Both political parties also have different policies and perspectives on this social issue. When comparing the policies about race and racial, Biden's policy is more compromised and support black people more than Trump's policy such as supporting the education for black people and minorities.


    For Thai business, The U.S. has become 1 of 10 highest invested countries in Thailand. The changes in U.S. economic policies can lead to the changes in direction of Thai investment and trade. Mr. Aat Pisanwanich, Director, Center for International Trade Studies (CITS), University of the Thai Chamber of Commerce, said Thailand has the opportunity in medical equipment and health care business during this global pandemic. With the strong medical system, there is a growing demand from abroad in terms of investment and medical tourism especially Chinese investors. As a result, Thailand can turn this crisis into the opportunity and take advantage of the pandemic by promoting and developing the Thai medical system. 

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Resources : https://www.thailand-business-news.com/health/80274-covid-19-to-boost-thai-medical-industry.html, https://www.fxstreet.com/analysis/research-us-election-dominated-by-covid-19-and-fed-policy-202009070325, https://thestandard.co/trump-vs-biden-comparing-their-policies/, https://www.orfonline.org/expert-speak/us-race-politics-and-protests-an-impact-assessment-on-the-2020-elections/

 

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