Former governor of the Bank of Thailand
Prasarn Trairatvorakul is former governor of the Bank of Thailand.
What happens in emerging markets matter. Together, they account for more than half of the world's GDP. The group of countries known as Bric _ Brazil, Russia, India and China _ has powered global economic growth since the early 2000s [now known as Brics with the inclusion of South Africa in 2010]. By mid-2009, these economies were growing 7 percentage points faster than the G7 economies and contributed around two-thirds of world output growth.
This year, the key challenge for Thailand is weathering the financial and economic turmoil from the euro crisis. More than one year ago, I had the honour of giving a talk here. Some of you who were in attendance may recall that I labelled 2011 the year of rebalancing for monetary policy.
Global citizenship is linked to the relationship between an individual and the state. Since we now live in a virtual world connected by technology, today's global relationship should perhaps be better defined as an association with economic opportunities available to an individual, irrespective of physical presence.