Pandemic: Globalization will become regionalization. - Narongchai Akaransee Ph.D. - Thailand
b'In this episode of #BusinessClass, we look at how the #Covid-19 pandemic is affecting the ASEAN nations, particularly #Thailand. We turn to #Dr.NarongchaiAkaransee, a former Thai government minister with extensive business knowledge.\\nDr. Narongchai explains Thailand\\u2019s successful approach to control of the Covid-19 virus. In comparing the government\\u2019s reaction to the #CovidCrisis vs. the 2008 financial crisis, he explains how the Thai government decided to distribute wages to 20 million people for three months because, \\u201cThis time they lost their job because of a government order.\\u201d \\nIn conversation with #USC\\u2019s #DickDrobnick, the two explore the economic effects of the virus coupled with strong governmental controls, \\u201cBig control. Very big impact.\\u201d They also discuss how Thailand\\u2019s bond market and major economic sectors are faring. Dr. Narongchai notes that the virus will hinder economic growth for both auto parts and tourism, \\u201cWe have been relying so much on #tourism. Last year, tourists arrivals were 40 million.\\u201d \\n\\nDr. Narongchai Akaransee Ph.D, is the Chairman of MFC Asset Management Public Co, Chairman of Ananda Group, Chairman of #Seranee Group, and Board Member of AIA Group. Dr. Narongchai has served as Thailand\\u2019s Minister of Energy and Minister of Commerce, Director of National Economic and Social Development Board, and as a Member of Monetary Policy Committee of the #BankofThailand.\\n\\nInterview recorded on April 30, 2020\\n\\nTo maintain social distancing the interview was recorded via the web.\\n\\nInterview by Dick Drobnick, Director \\u2013 #USCIBEARMBA Program'