Visiting Professor at Hitotsubashi University
Bandid Nijathaworn is president and CEO of the Thai Institute of Directors and visiting professor, Hitotsubashi University. This is an abridged version of an article featured in the book 'Bretton Woods, The Next 70 Years', published by the Reinventing Bretton Woods Committee, 2015.
Thailand is going through its most critical moment in modern history: twin crises of a health pandemic and a deepening economic crisis that feed on each other and affect all Thais regardless of status and income. In a bad-case scenario, up to 7,000 people could needlessly die with the economy vastly disrupted.
With the global economy slowing and the risk of a recession looming on the horizon, the question that arises is whether countries in Asia have the resources and capacity to manage such a crisis, considering the current prolonged policy uncertainties and the lack of global leadership to forge an unified response.