Opportunities and Challenges of China’s Economic and Political Development Under the Third Term of Xi Leadership: A Viewpoint of Thailand

This article aims to look into Thai-Chinese relations during Xi Jinping's third term in office, focusing on political and economic dynamics within the framework of geopolitics and geo-economics amidst international tensions, especially between China and the United States. These tensions present both challenges and opportunities to Thailand in its relations with China. Thailand acknowledges security challenges posed by China, particularly in nontraditional security realms such as grey capital (shady business). Despite these challenges, both the Thai government and its populace, including merchants and businessmen, view cooperation with China in positive light. The collaboration between the two nations under various initiatives like the Belt and Road Initiative (BRI), ASEAN + 1, GMS, and ACMECS underscores a strategic shift toward prioritizing shared interests and regional cooperation. The historical relationship between Thailand and China, at both governmental and regional levels, remained pivotal in fostering bilateral ties. Additionally, Thailand not sharing borders with China minimizes conflict compared to neighboring ASEAN countries with territorial disputes with China, particularly in the South China Sea. In the context of Xi Jinping's Chinese Dream and Thailand's strategic choices, actions are taken by the Thai Government to maintain balance between global superpowers, capitalizing on economic opportunities while mitigating security risks. Thailand's security posture, especially in nontraditional realms, and cooperation across various sectors are expected to deepen in the future, driven by mutual interests within the framework of regional geopolitics and geo-economics.