ABSTRACT
For more than three decades, academics have been discussing the impact of globalization. Globalization has transformed the role of government in recent times. As a result of the new types of interactions and interdependence, it is changing the role and functions of the government. Globalization has led to the loss of sovereignty of states as a result of the increased influence of NGOs and other actors in the affairs of the governments. Asia is a huge continent with a wide variety of countries with different history, culture, tradition, geography, political systems and economic conditions. Most of the countries represent different resources with different human and technological skills. Most of the countries in Asia have moved towards privatization and market-led alternatives. Southeastern Asian countries have undertaken market liberalization even though they assumed more regulations by the government. Globalization is an important force in Thailand influencing financial reforms with the support of the government and the private sector.
