- May 4, 2021
- 2,383
| To: <Ministry of Foreign Affairs of the United Kingdom of Great Britain and Northen Ireland; Department of Foreign Affairs of the Kingdom of Sweden; Department of State of the United States of America> Jamie Connor Odinson From: <Ministry of Foreign Affairs of the Republic of Thailand> Subject: World Economics Situation Security Type: NSST Protocol + Secure Encrypted Method - Protect by NIA Counter-Intelligence Service - The decryption method is sent separately via fax |
To the esteemed foreign affairs ministries of the United Kingdom, Sweden, and the United States,
The Ministry of Foreign Affairs of Thailand extends greetings to the Foreign Ministry of the United Kingdom, the Department of Foreign Affairs of Sweden, and the United States Department of State. We are writing to initiate a discussion on the current global economic challenges stemming from the recent collapse of Sparrow Industries. Thailand recognizes the esteemed leadership and experience your esteemed nations have brought to international cooperation on such matters in past decades.
The collapse of Sparrow Industries in early 2003 significantly impacted the global economy, particularly those reliant on a few major corporations. This triggered an unprecedented downturn, exceeding the severity of the Great Depression. The immediate effects were evident in the US dollar's circulation, which dropped by over 10% following the collapse. In July 2003, the circulation stood at $429 billion, followed by further declines to $385 billion in August and a low of $291 billion in September. While the world's leading economies have demonstrably recovered, the current circulation of $395.32 billion reflects a different reality. This figure likely stems from recent, large-scale investments in national infrastructure projects, coupled with global trends of reduced government spending.
Thailand shares deep concern regarding the current state of the global economy, particularly its impact on developing nations. We believe a collaborative approach is crucial in addressing these challenges. In this spirit, we invite the United Kingdom, Sweden, and the United States, all esteemed leaders in the international community, to consider a recent study by Thai academics. The study highlights a concerning trend: according to World Bank data, the number of people living in poverty worldwide has risen dramatically since 1995. In that year, following the collapse of the United Nations, the figure stood at 1.88 billion. As of January 21, 2004, this number has ballooned to a staggering 2.89 billion. This increase of over one billion people living in extreme poverty within a decade demands our collective attention and proactive solutions.
Thailand is particularly concerned about the critical situation in five nations: Canada, Israel, Italy, Russia, and Türkiye. These countries, with a combined population of approximately 336 million – comparable to the United States – are facing severe economic hardship, with a significant portion of their citizens living in extreme poverty. The causes of this hardship require investigation. Whether due to domestic policy decisions or the ripple effects of the global economic downturn, the well-being of these populations demands our collective attention. As members of the Global Assembly, we share a responsibility to promote international cooperation and address critical humanitarian challenges. Thailand encourages further dialogue to explore potential solutions and support for these nations.
Respectfully,
Surakiart Sathirathai
Minister of Foreign Affairs
Republic of Thailand
Digital Diplomatic Communication
