On 16 February 2012 the Secretary-General of UNCTAD delivered a keynote speech on the topic of the Sufficiency Economy and the
direction of sustainable development while participating in a Conference entitled "The Meaning of the Sufficiency Economy" in Bangkok, Thailand.
Dr. Supachai noted that the concept of the sufficiency economy, born out of the Asian Financial Crisis of 1997/98 and focusing on the need for moderation and the principle of the 'middle path', can provide valuable guidance as the world faces the current global financial crisis, which has thrown into question much of the accepted economic wisdom.
Dr. Supachai stressed that the level of inequality created by 'finance-driven' globalization must be addressed, and outlined the role that the philosophy of the sufficiency economy can play in considering new development strategies in areas as diverse as agricultural production, the regulation of financial markets, trade and environmental sustainability.
The UNCTAD XIII Conference, to be held in Doha, Qatar, in April this year, will be examining the question of new development pathways, within the context of globalization that is development rather than finance led.