Trends of Thailand’s Economics 4.0 in Digital Economic Era: From Geopolitics Risk to Geo-Economic Dilemma by Superpowers

Abstract

Geopolitical Risks can be categorized as a malevolent force that has been a driver of political, economic, military, and social systems amongst countries, and emerge from a nation's involvement in international affairs. Furthermore, the Geopolitical Risks can also be the risks that disruptive economic growth will be existed thereafter. It is empirical as in the late 20th century, the old powers (Ruling Power) conflicted with the new powers (Rising Power), the United States and China respectively. The old power which is the United States must take steps to thwart rival nations known as the New Power which is China, especially China's apparent desire to set up “a New World Order”. In the digital economy world 4.0 era (Fourth Industrial Revolution), such conflict has affected Thailand through the geopolitical conflict enacted by the superpowers. Since both are trading partners that are centered on the growth of the country regarding stability and economy, which Thailand is in the supply chain system (Supply Chain Effect). Therefore, it is necessary that the Balance of Power theory should be implemented, that is to say the maintaining of relation equality with all superpowers and for the disengaging from the supply chain. The Production Process and Product should be implemented for that of the product compliance enable to meet with the demand amongst consumers, ready to be marketed in which encompass innovation and modern technology. Thailand should launch the policy on induced investment from multinational corporation and the human resources should be ongoing developed for the highly qualified and modernized merchandises which will be the key mechanism for New Growth Engines of the country.