Anusorn Says Thailand Missed Chance for Baht as Regional Currency
Anusorn Thamjai evaluates that Thailand has missed the opportunity to push the Thai baht as a regional currency and proposes 4 key strategies.
Stock photo for illustration only, not from the actual event
- Anusorn Thamjai assesses that Thailand missed the chance to make the baht a regional currency.
- Four key policy recommendations are proposed for the Thai government to implement.
- Current global financial shifts and currency stability challenges are highlighted.
- Emphasizes the need to boost the nation's overall economic competitiveness.
Assoc. Prof. Dr. Anusorn Thamjai, an academic economist, has assessed the latest economic situation, stating that Thailand has missed a crucial opportunity to elevate the "Thai baht" into a primary regional currency. This is seen as a regrettable setback amid shifting global financial landscapes that increasingly favor local currency usage.
From the academic's perspective, the failure of the baht to secure a status as a core currency for trade and investment across Southeast Asia and the Mekong sub-region means Thailand has lost valuable economic leverage, despite the baht historically demonstrating strong stability relative to other developing nations' currencies.
Stock photo for illustration only, not from the actual event
To address this situation and chart a better path forward for the Thai economy, Assoc. Prof. Dr. Anusorn has outlined four strategic recommendations for the government and relevant agencies to actively pursue:
- Accelerate regional financial cooperation to promote Local Currency Settlement.
- Revise foreign exchange regulations to be more flexible and business-friendly.
- Upgrade digital economic infrastructure to seamlessly support cross-border payment systems.
- Strengthen macroeconomic stability to build long-term confidence among international investors.
Pushing local currencies to gain regional acceptance is a key strategic move for many nations seeking to reduce reliance on the US dollar (De-dollarization). While Thailand holds strong regional footing in tourism and trade, the real challenge lies in financial market depth and regulatory flexibility. If the government can effectively integrate these policies, it may help reclaim previously missed opportunities in the long run.
These four proposals serve as an essential roadmap that public sectors must urgently consider to prevent Thailand from falling behind neighboring peers within ASEAN and regional financial arenas.
Source: Matichon Politics
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