US politics hit global markets while Thailand gains in AI supply chain

Finance Minister Ekniti Nitithanprapas highlighted developments in international politics on Friday (November 6, 2026) and pointed to what he described as a political transition in the United States (US) following a Democratic Party victory that had brought changes to both the Senate and the House of Representatives.

In the minister’s assessment, these developments had clearly affected the direction of money and capital markets worldwide.

Stock markets overseas had begun to fall amid short-term concerns and volatility, particularly over policy uncertainty surrounding artificial intelligence (AI) and data centres.

The US leadership had yet to clarify its position on either area.

Thailand had been preparing for the volatility, taking into account both the potential benefits and the risks that needed close monitoring, Ekniti said.

US trade talks to continue

The Thai government is continuing trade negotiations with the United States to protect Thai businesses from adverse effects and keep them competitive in the large US market for goods.

Prime Minister Anutin Charnvirakul may have an opportunity to hold talks with the US president during the upcoming Asia-Pacific Economic Cooperation (APEC) meeting.

Thailand among four key countries in AI supply chain

Thailand was benefiting significantly from its role in the AI supply chain, Ekniti said.

Citing recent meetings of the World Bank and the International Monetary Fund (IMF), the minister said Thailand had been identified as one of four key countries in the global supply chain, alongside Malaysia, Vietnam and South Korea.

Ekniti linked Thailand’s position to a sharp increase in demand for investment promotion, as reflected in applications to the Office of the Board of Investment (BOI).

In the minister’s view, the trend would help Thailand continue attracting more foreign investment.

Fiscal discipline and a 2% rate on 10-year bonds

Thailand’s financial stability and fiscal discipline put the country in a particularly strong position to withstand global economic volatility, according to Ekniti.

The country had maintained fiscal discipline, with public debt at more than 60% of gross domestic product (GDP).

By comparison, the minister pointed to US concerns over the debt ceiling and cited a US figure that had risen sharply to more than 100% of GDP.

“As a result, the interest rate on Thailand’s 10-year government bonds is only 2%, while the corresponding US rate is as high as 5%. This shows that Thailand’s borrowing costs remain clearly lower,” Ekniti said.

Data centre measures to go to Cabinet next week

The government is monitoring the fall in global oil prices amid volatility in commodity markets and taking a cautious approach as it prepares to respond.

The government’s economic policy emphasises “short-term stimulus, long-term gains” as a framework for strengthening Thailand’s long-term competitiveness.

Measures to promote data centres are due to go before the Cabinet for consideration next week under a government plan to support sustainable growth in the country’s technology infrastructure.