Chapter 21. G2G Market
G2G Market
* This idea is contributed to Her Royal Highness Princess Maha Chakri Sirindhorn of Thailand.
G2G Market was first invented by Pittaya Wong (Tisuthiwongse) as a
part of Dhammonomics or Buddhist Economics which promotes ‘Fair Trade’ instead
of ‘Free Trade.’
According to the G2G Market ideal, governments of different
nations share the same venue and opportunity to make an offer to bid, sell,
exchange, or swap commodities, crops, goods, and services with other
countries. The trade transactions will be Government to Government (G2G)
or Government to Business Sector (G2B).
The governments of sovereign nations play the role in trade
dealing because, in some countries, the governments have to purchase products,
commodities, and crops, in order to subsidize or support the local
markets. This role is also replacable by the private sector in countries
where the union or cooperative is formed to represent either the producers or
consumers.
Thus, with G2G Market, governments and/or private sectors can
offer their local excess in exchange for other countries’ local excess in order
to allow the global demand and supply to be satisfied whereas the exchange can
be in the form of ‘barter system’ or else which allows the trading parties to
complete trading transactions without affecting the currency exchange rate.
By
Pittaya Wong (Tisuthiwongse)
24
January 2019
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