Bangkok: China is pushing forward with its national economic development plan, attracting investment through a "Shopping Tourism" model, combined with a visa-free policy. Yiwu is being promoted as a model city to attract global tourists to shop for technology products, further transforming the image of 'Made in China' goods. Join the analysis with Assoc. Prof. Dr. Ath Pisalvanich, an expert in international and ASEAN economics from the Faculty of Economics, Rangsit University, on the program "Looking at China from Multiple Perspectives," hosted by Wacharin Setthakudhan.
According to Thai News Agency, the initiative is part of a broader strategy to enhance China's economic profile, leveraging Yiwu's status as a renowned wholesale market to also become a tourist magnet. The city is expected to benefit from increased international footfall, with the visa-free policy easing access for global tourists eager to explore and purchase the latest technology products.
The move is seen as a strategic effort to reshape perceptions of 'Made in China' goods, associating them with quality and innovation rather than merely low cost. This aligns with China's broader economic goals of modernizing its industrial output and establishing itself as a leader in technology and consumer goods.
As Yiwu transitions from its traditional role as a wholesale hub to a multifaceted tourist destination, it symbolizes China's adaptive economic strategies aimed at sustaining growth and global competitiveness.