From Joe Biden’s victory in the United States’ presidential election, What we shall keep eye on is that there are big differences between Biden and Trump policies, so what are the economic trends for Thailand after this election?
Biden’s victory is expected to bring many changes in US domestic and foreign policies. He is likely to introduce a softer approach to China than Trump that expected to accommodate Southeast Asia countries. US was likely to rejoin the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPPTP) that Thailand would benefit from freer global trade. Moreover, Biden plans to bury “American first” as a guiding principle of the nation’s foreign policy and encourage the U.S. to return to a multilateral trade framework, and as a result, he will rejoin trade agreements that Trumph withdrew. Joe Biden also focuses on climate change, his clean energy plan seeks to accelerate the US energy transition that leads to an upside in clean energy stock. Furthermore, Amidst the covid-19 pandemic, Biden advisers call for urgent COVID-19 action which forecasts to benefit Thai economy from Biden’s pandemic recovery plan.
Victory for Biden might impact the future of U.S. - China relations, this can be a real turning point for U.S. foreign policy, in particular with regard to China. Biden plan to ensure the future is “Buy America” to support all of America’s workers and compete with China which is a softer approach than Trumph. Therefore, the policy changes under Biden can benefit many aspects of Thai economy, and with Crowdfunding as the future of SME funding.
Sinwattana Crowdfunding is ready to support with Social Crowdfunding, Equity Crowdfunding, and Biodiversity fund to serve the growth of all sectors. If you would like to find out more on Crowdfunding at Sinwattana, please go to www.sinwattana.com