November 2003
Asian investors must learn to love an Asian asset class
Thirachai Phuvanatnaranubala, deputy governor of the Bank of Thailand, has been one of the main drivers of recent Asian financial market initiatives, most notably steering ABF1 to fruition. He spoke to Euromoney's Nick Parsons about pan-Asian achievements and hopes for the future.
You want to set up an Asian financial institute. What would it do and why is it necessary?
Look at the domestic markets, at different levels of development - we need to find concrete ways to help all countries at the lower level to move forward. We can if first we know what the impediments are and second someone tells them what needs to be done to clear up the impediments. Of course, it has to be done gradually and with national agendas in mind. Unless we have a channel where we can involve the political process the effort may be futile.
At the moment there are a lot of overlaps. The subject has been talked about quite widely now and a lot of people have wanted to help. We could end up with duplicates or worse - reports sitting on the shelf....
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