Thailand has just lost many golden decades in the future for not developing its Kra Canal.

https://thebarentsobserver.com/en/2017/09/northern-sea-route-completely-ice-free-and-shipping-thrives

https://www.nextbigfuture.com/2017/10/china-wants-to-open-major-arctic-shipping-route.html

The northern sea route is completely ice free and shipping will start to thrive in the future.  China has completed its studies on this new northern sea route and will begin to open this arctic shipping lane which will bypass the Strait of Malacca completely.  This arctic sea lane will compete with South East Asia for shippers in the future.  Therefore, Thailand, Malaysia and Singapore will be greatly affected economically due to lesser shipping businesses.

Once the opportunity is gone, it is lost forever.  China's interest in the Kra Canal has diminished and Thailand has lost many golden decades in the future for not developing its Kra Canal which can transform Thailand into the Panama of South East Asia. Consequently, this Kra Canal development is no longer feasible due to climate change as there is a cheaper way to bypass the Strait of Malacca now.

China is definitely gladdened to see the emergence of this Arctic sea lane because it no longer feels threatened by a single sea lane that passes through Strait of Malacca.

The biggest loser is Thailand because of its failure to recognize the opportunity to transform itself into the Panama of South East Asia.  This mistake will cost Thailand billions of economic losses in the future.

We did report on this Arctic sea lane in our previous post.

http://sg-stock.blogspot.sg/2017/04/new-arctic-shipping-route.html