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Thailand’s preparedness for black swan events
Don Pramudwinai is a deputy prime minister of Thailand and its longtime minister of foreign affairs.
The year 2020 was truly a disruptive time in world history.
The fast-spreading COVID-19 pandemic managed to halt the wave of globalization and forced governments into lockdowns. Businesses were shuttered, employees furloughed or thrown out of work, and existing social inequalities only widened. Everyone realized that business would never again be the same and began adjusting to the new normal.
The pandemic is a harsh reminder that life is full of uncertainties and unknown possibilities. In worst-case scenarios, we don’t even know what we don’t know — often leaving us unguarded when the unexpected happens. The damage caused by unknown unknowns or black swans, as some theorists call them, is more troublesome in our smaller and more intertwined world.
Thailand is a medium-sized nation that…
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