OPINION

CBDC straitjacket

Re: "More central banks adopt digital currencies -- study", (Business, Sept 19, 2024).

Do you want the government to have authority over your money? Know all of your spending all the time?

As a Thai university student, no I don't. But they are doing it right now!

The Bank of Thailand (BOT) is developing a Central Bank Digital Currency (CBDC) to enhance digital finance and security. But beyond convenience lies a deeper concern -- surveillance.

Unlike cash, CBDC allows the government to track every transaction, threatening financial privacy. Worse, it can be used as a tool of control, with authorities potentially freezing or seizing funds at will. Even if not abused, can the system truly be secure from cyber threats?

Are CBDCs the future of safe finance, or a step toward government overreach -- something decentralised cryptocurrencies were designed to resist?

Bimstec boon

Re: "Bimstec to put regional ties to the test", (Opinion, March 25).

The upcoming Bimstec Summit in Bangkok represents a critical moment for this forum to solidify its role as a major geopolitical player. As Kavi Chongkittavorn highlights, the Bay of Bengal region is no longer a peripheral concern but a vital hub of trade, security, and strategic cooperation.

Given its growing economic weight, commitment to connectivity, and increasing coordination in key areas such as digital payments, cybersecurity, and crisis response, Bimstec has the potential to emerge as a strong competitor to China's regional influence.

The forum's emphasis on resilience and cooperation could make it an alternative model of regionalism -- one that fosters economic integration without the political dominance of any single power.

If Bimstec can practice solidarity and give tangibility to its "Bangkok Vision 2030" and enhance its collective voice, it may contribute to redefining the dynamics of the Global South and challenge existing institutional structures in Asia.

US on the brink

Re: "Republicans who back Trump get an earful from voters", (World, March 27).

Twenty-five years ago, I was on a State Republican Board for gay republicans and, aged only in my 20s, I learned the Cardinal Rule of Politics from our board president:

"Jason, you have to be careful who you give money to because, the moment you have to take it away, they will scream bloody murder!" our president taught me. Sadly, America is so deep in national debt (US$36 trillion) that we are finally at a fiscal point where painful cuts either get made, or America will go finally go under; and so the screaming has begun about what gets cut.

I'm dealing with a problem on my federal pension, too, so if you are American and angry -- rather than shouting obscenities at today's politicians and getting hauled away by security -- perhaps it would be far more harmonious if every American would just truthfully say how they really feel: "Go ahead and cut everyone's cheque... except mine."

CONTACT: BANGKOK POST BUILDING 136 Na Ranong Road Klong Toey, Bangkok 10110 Fax: +02 6164000 email: postbag@bangkokpost.co.th

All letter writers must provide full name address.

All published correspondence is subject to editing at our discretion.