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Bangkok Bank’s President on Thailand Economy and Digital Banking

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Chartsiri Sophonpanich, president at Bangkok Bank, discusses the U.S.-China trade war, its impact on Thailand, growth in the country, their loss of market share, asset quality and his plans for digital banking.

He speaks exclusively on “Bloomberg Markets: Asia” from the sidelines of the Bloomberg Asean Business Summit in Bangkok.

The theme for this 34th summit has three main components

First, is “Advancing”

ASEAN will look towards the future and move forward together dynamically, making use of technological advances from the 4th Industrial Revolution, and enhancing our competitiveness. ASEAN will also build immunities from disruptive technologies and future challenges, especially for MSMEs, so as to advance towards a “Digital ASEAN”.

Second, is “Partnership”

Both within ASEAN and with Dialogue Partners and the international community, by strengthening the concept of “ASEAN Plus One” and reinforcing the ASEAN-centered regional architecture, increasing economic cooperation with all countries with due consideration to balance and benefits for the people, and enhancing the role of ASEAN at the international stage in addressing important global issues such as climate change.

In strengthening ASEAN’s various partnerships, one of the most important drivers is the promotion of connectivity in various dimensions, including infrastructure, rules and regulations, and people-to-people links, especially in the context of the ASEAN Year of Culture 2019. Equally important is connecting the various connectivity strategies within the region, to becoming a “Seamless ASEAN”.

Third, is “Sustainability”

We wish to build sustainability in all dimension, be it sustainable security, sustainable economic growth, which includes the green economy and sustainable development. The establishment of the ASEAN Centre for Sustainable Development Studies and Dialogue and the ASEAN Centre for Active Ageing and Innovation will play an important role in achieving this goal

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The plan to launch a new currency next year is ambitious and controversial, as Libra is scrutinized by central banks around the globe, including the US Federal Reserve.

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How China’s role in global finance has changed radically

Within the space of just 15 years, China has gone from being the largest net lender to the world to now being a net borrower. The implications for the global economy, and China’s role within that economy, could be significant.

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Bangkok Tops Mastercard’s Cities Index For The Fourth Consecutive Year

Bangkok remains the No. 1 destination, with more than 22 million international overnight visitors, but Dubai tops the list for spending.

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The Global Destination Cities Index—which ranks 200 cities based on proprietary analysis of publicly available visitor volume and spend data—reveals that Bangkok remains the No. 1 destination, with more than 22 million international overnight visitors.

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