Chapter 21. 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