After years of lagging its neighbors, Thailand is catching up as a global trade recovery boosts exports from the Southeast Asian nation.
Growth has remained stuck at around five percent for the past three years and the latest result was unlikely to signify the start of a sustained recovery.
APEC is the leading economic forum in the Asia Pacific region with a focus on supporting sustainable economic growth and prosperity of economies within the region.
“By helping banks with more cash availability, we will be able to bring down lending interest rates at banks without having to cut our policy rates.”
Xi painted China’s governance system as a unique development model while hailing signature policies like his Belt-and-Road infrastructure initiative and anti-corruption campaign.
Eight rate reductions since the beginning of last year, including two back-to-back surprise cuts this year, have failed to fire up Southeast Asia’s largest economy.
An economic boom accompanied by surging credit growth has fuelled speculation that Bangko Sentral ng Pilipinas may need to tighten monetary policy.