07/06/2025

SATURDAY | JUNE 7, 2025

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COMMENT by Dr Uma Murthy and Dr Paul Anthony Maria Das

Potential of single Asean currency A S global economic uncertainties continue to mount, Southeast Asia stands at a strategic crossroads. The recent surge in trade tensions, particularly those economies from external shocks and speculative currency attacks. The European Union’s adoption of the euro has created one of the largest and most stable currency unions in the world, bringing 19 countries under a unified monetary policy.

stemming from the US’s tariff policies and restrictive trade measures, has reignited discussions across Asean nations about the need for greater financial and monetary integration. One idea, long debated but never

While challenges remain – as seen during the Greek debt crisis – the benefits of the euro in promoting price

stability, enhancing trade and reducing transaction costs are undeniable. Eurozone trade within member states rose by over 50% in the first decade of the euro’s introduction, according to data from the European Central Bank. Asean already has some groundwork laid. The Chiang Mai Initiative Multi lateralisation, Asean+3 Macroeconomic Research Office and the Asean Economic Community indicate that economic collaboration is not only feasible but already partially in motion. Intra-Asean trade now accounts for more than 22% of total Asean trade, worth over US$800 billion annually, according to the Asean Statistical Brief.

“A single Asean currency could strengthen the bloc’s bargaining power in global negotiations and reduce overdependence on Western

realised, has resurfaced with renewed urgency – the adoption of a single Asean currency. The US has increasingly adopted protectionist trade practices, disrupted global supply chains and raised the cost of doing business. The ongoing US– China tariff war, for example, continues to unsettle Asean exporters, particularly in electronics, palm oil and rubber. According to the World Bank, the Southeast Asian region could lose an estimated US$13 billion (RM55 billion) annually due to ripple effects from trade fragmentation and tariff hikes.

Harmonising currency would eliminate foreign exchange costs, encourage regional investment and boost economic resilience. – BERNAMAPIC

financial systems.

infrastructure present a challenge to Asean central banks, which are still highly reliant on the US dollar. A single Asean currency could strengthen the bloc’s bargaining power in global negotiations and reduce overdependence on Western financial systems. Critics rightly point out the challenges, such as differences in inflation rates, fiscal discipline, political structures and financial market maturity. Asean is more diverse economically than the Eurozone, ranging from high-income Singapore to emerging economies like Laos In recent years, one of the most important things I have learned to cope with stress is to regulate my nervous system. So instead of heading to the fridge or pantry, I turn to a few simple but powerful tools: 0 Identify and acknowledge the emotion; 0 Notice you feel it in your body; 0 Orient – take a moment to look around and notice things that are pleasant to the eye; 0 Resource – think of someone or something that instantly makes you smile; 0 Use sound – hum or try a slow, exaggerated “wow”; 0 Cold water – splash ice-cold water on your face and hands; 0 Therapy – it has truly saved my life and taken years off my face. No need for expensive creams, just unload it all on your therapist. These techniques have been game-changers. When I feel that familiar urge to raid the kitchen, I pause and run through this mental checklist. More often than not, I realise what I am experiencing is not

and Myanmar. However, unity does not require uniformity. A staged implementation – beginning with a currency basket peg or a digital Asean currency for intra-bloc trade – could serve as a realistic first step. Digital tools such as QR-code payments and central bank digital currencies, already in use in Thailand, Singapore and Malaysia, can fast-track integration. The post-Covid-19 world is reshaping global economic priorities. With ongoing trade disruptions and geopolitical instability, Asean must ask itself whether continuing with hunger but anxiety, frustration or overwhelm that my body has come to associate with eating. More importantly, I have discovered that food prepared with intention and care tastes fundamentally different than food consumed mindlessly. When I cook with love – whether for myself or others – the meal becomes nourishing in ways that go beyond mere nutrition. I learned to truly taste my food again. When you are stress-eating at your desk while answering emails, you are not really experiencing the meal. Now, I try to eat without distractions, savouring each bite and appreciating the colours, textures and flavours. This mindful approach naturally leads to eating less while enjoying my food more. The connection between our emotions and our eating habits is profound. Food can be either medicine or poison, depending on how we approach it. When we eat to numb our feelings, we are using food as a drug. But when we eat with awareness and gratitude, food becomes what it was always meant

fragmented currencies serves its future. Now is the time for the region to boldly envision a future anchored in monetary unity. A single Asean currency is not just a dream – it could be the key to securing long-term stability, growth and independence in an increasingly uncertain world. DrUma Murthy and Dr Paul Anthony Maria Das are lecturers at the School of Accounting and Finance, Taylor’s Business School, Faculty of Business and Law, Taylor’s University. Comments: letters@thesundaily.com to be: nourishment for our bodies and souls. Today, my relationship with food is one of respect rather than desperation. I still love eating, perhaps even more than before, but now it is a conscious choice rather than a compulsive behaviour. That stressful job and difficult colleague are long behind me, replaced by work that feeds my spirit instead of draining it. My diabetes is well-managed, and while I would not wish it on anyone, I am grateful for the wake-up call it provided. Shaw was right — there is no love more sincere than the love of food. But I have learned that the truest love of food comes from understanding not just what we eat but why we eat and how we can use this fundamental human need to support our overall well-being rather than undermine it. NahlanaT. Kreshnan is a somatic psychotherapist and life and executive coach. Comments: letters@thesundaily.com

Countries such as Malaysia, Singapore, Vietnam and Thailand are increasingly interlinked in production and consumption. Harmonising currency would eliminate foreign exchange costs, encourage regional investment and boost economic resilience. Moreover, the growing influence of China’s yuan and the possible future expansion of BRICS’ financial

Currency volatility adds another layer of unpredictability. The Thai baht, Malaysian ringgit and Indonesian rupiah have all experienced significant depreciation against the US dollar over the past year, making imports more expensive and external debt burdens heavier. A single regional currency could act as a buffer, shielding Asean

From mindless eating to mindful living GEORGE BERNARD SHAW once said: “There is no love more sincere than the love of food.” As a food lover, I could not not eating was when I was asleep. So it should have come as no surprise when, before surgery one head-on and discover healthier ways to cope with stress.

day, the doctor walked into my room and nearly bit my head off over my high glucose reading. But surprised I was. That was the beginning of my journey with type 2 diabetes, and what an irritation that turned out to be. When you are stressed,

agree more. I am not exactly a “foodie” – I don’t travel miles in search of a specific food or have the urge to visit a particular restaurant. But I do love eating. I enjoy the taste, the smell and the texture of whatever I am consuming. That said, when hunger strikes and there is nothing else to eat at home, good old instant noodles will suffice. I must have some vegetables with it, so I add some cucumber or some edamame I keep in the freezer. I have come a long way from in my relationship with food. More than 10 years ago, I had an extremely stressful job as a head-hunter, made worse by a colleague who was the bane of my existence. I coped by eating incessantly - buns, crisps, biscuits, nuts, cake, fruit – anything that was edible. And that was on top of having large meals three times a day. The only time I was

your body releases cortisol, which increases your appetite. In addition to that, food, like any other addiction, is often used to suppress emotions. But diabetes became my unlikely teacher. Suddenly, I could not eat mindlessly. I had to learn to read labels, understand portion sizes and – most importantly – recognise the difference between physical hunger and emotional eating. The journey was not easy. At first, I felt deprived and angry. Food had been my comfort, my stress reliever and my constant companion during those long, difficult workdays. Without it, I had to face my emotions