Connect with us
CGIF-10th-Year-Anniversary

Opinion

Rice Pledging in Thailand: How did it go so wrong?

A populist policy that was part of the platform propelling the relative unknown Yingluck Shinawatra to power last May, the scheme now threatens to severely damage the government

Bahar Karaman

Published

on

Last week, the Senate Committee on Economics, Commerce and Industry, of which Dr. Vitthaya is vice-chairman, filed a damning report blaming the scheme over rampant corruption and a rising mountain of debt as big as the piles of unsold rice fill warehouses across Thailand.

A populist policy that was part of the platform propelling the relative unknown Yingluck Shinawatra to power last May, the scheme now threatens to severely damage the government. Some say it could even bring the Prime Minister’s coalition down.

Rice field in Thailand

Rice Pledging in Thailand: How did it go so wrong?

 

The chairman of the central bank has already criticized the scheme – so too have academics, economists and even the U.S. Department of Agriculture, the latter of whom warned of the policy’s effects on international rice prices – and at the end of this month Prime Minister Yingluck Shinawatra’s Pheu Thai party faces a two-day grilling from the opposition and the Senate all asking the same question: How did it go so wrong?

In theory, the policy makes perfect sense. If you pay farmers above the market rate for paddy they will earn more, Thai rice – already known for its quality – will rise in price and in turn force up prices on world markets.

via How Rice is Causing a Crisis in Thailand – The Diplomat.

Comments

Opinion

How Trade Made the Richest 0.1% Even Richer

Among the alleged ills of globalisation, few have dominated the headlines in the past decade as much as worsening inequality.

Avatar

Published

on

Among the alleged ills of globalisation, few have dominated the headlines in the past decade as much as worsening inequality.

(more…)
Continue Reading

Opinion

Covid Lockdowns are Overly Blunt and Costly

New evidence suggests lockdowns were an overly blunt and economically costly tool. They are politically difficult to keep in place for long enough to stamp out the virus.

Avatar

Published

on

In response to the novel and deadly coronavirus, many governments deployed draconian tactics never used in modern times: severe and broad restrictions on daily activity that helped send the world into its deepest peacetime slump since the Great Depression.

(more…)
Continue Reading

Opinion

Creating Long Term Growth in Thailand Post- Covid-19

Key mechanisms to position Thailand as the premier destination for investment include regulatory predictability and transparency as well as competitive tax policies and regulations

Pr News

Published

on

By

Bangkok restaurant

As governments and companies navigate through the new normal and ongoing transformations, The American Chamber of Commerce in Thailand (AMCHAM Thailand) offers long-term measures to support long term, sustainable economic growth in Thailand.

(more…)
Continue Reading
Advertisement

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,453 other subscribers

Trending