One key property that makes countries that never
fall into a middle-income trap stand out is their ability
not only to adapt to, but also to take advantage of, new
environments. Thailand must do the same in looking
ahead to the future. The most notable new environment
is perhaps regional integration among the countries of
East Asia, Southeast Asia, and South Asia. Increased
regionalization reflects the recent fall of the G-7’s
economic power, especially in countries of the West, a
development that is likely to continue into the foreseeable
future. For Southeast Asia, the full formation of the
ASEAN Economic Community (AEC) is eagerly
awaited by the private sector in most countries in the
Association of Southeast Asian Nations (ASEAN),
including Thailand. What remains to be done is for the
public sector to catalyze the induced changes in order to
maximize the benefits from this development.
Other new environments worth taking note of are
climate change, alternative energy technology, and the
increasing sense of democracy