| The "One Belt and One Road" project is basically the construction of an international passage and economic corridor,where the former is based on the infrastructure construction-to promote the development of economy and society through the development of transportation infrastructure.The "One Belt and One Road" project will stimulate the structural rearrangement of infrastructure and resources,while the international passage will refresh the system and structure of regional economy and the trade market.China and Thailand signed the Memorandum of Understanding on Sino-Thai Railway Cooperation in 2014.Under this memorandum,a railway of 873km would be jointly built by both countries.It will be the first standard gauge in Thailand.Originating from Nong Khai in Northern East Thailand,the railway will pass through Udon Thani,Khon Kaen,Nakhon Ratchasima,and then split into Southern East Line and Southern West Line in Saraburi,where the former line will reach its destination in Rayong and the latter line Bangkok the capital of the country.It will connect Kunming,China and Vientiane,Laos through Nong Khai,becoming the middle line in Trans-Asia Railway.Partnership is the main theme for today's world,and it is even the core of the "One Belt and One Road" project.This railway by China and Thailand,845 kilometers in total,stretches from the Thai-Laos border to the Gulf of Thailand.The process and the completion of the construction have both further strengthened the strategic cooperation between China and Thailand,in the way of contributing to the economic development of Thailand and utilizing its geographical advantages.The Railway connecting both countries will stimulate both countries' economy and serves as an example of the "One Belt and One Road" project echoing the infrastructure construction plan proposed by Prayuth,the Prime Minister of ThailandBased on the importance and feasibility of the said railway construction project under the international passage strategy within the "One Belt and One Road" project,this article first elaborates the cooperation mechanism between China,Thailand and ASEAN region.It then carries out empirical analysis on the trading effects brought about by the Railway through the quantitative interregional trade model.The result shows that the Railway brings about the most distinctive effect in agricultural products trade that China's interregional trade of agricultural product exports to Thailand will increase significantly from 62.5%to 94.3%,while Thailand's to China will drop dramatically from 5.7%to 37.5%.For other kinds of trade goods,the effect brought about by the Railway is relatively small that the export of Chinese automobile and spare parts will slightly increase to 5 percentages,while the export of Thai household appliances and motor and accessories will have a minor increase and reach 2 to 6 percentage.The effect on the trade of computer and mechanical equipment is relatively small.The empirical analysis shows that the Railway will promote and work along with the agricultural trade and the implementation of the "One Belt and One Road" project.This article considers that the construction of railway brings tremendous effects to the trade share between the two countries.The trading activities between the two countries would be more vigorous in the accessible area.Therefore,the government and enterprise should be well prepared for the adjustment in its production structure as well as the policies regarding the planning and development along the railway.With such basis,China and Thailand will be able to continue to develop their potential of cooperation on infrastructure construction,equipment production and trading and investment.The forward-looking philosophy of the "One Belt and One Road" project will be further authenticated. |
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