Damning criticism of rice scheme from Bloomberg
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Re: Kittiratt tells Moody's rice pledging not a threat, Business, July 17, 2013.
Those who are supportive of the Yingluck government’s rice price-pledging scheme should read about this subject from the outside world for a change:
Bloomberg News, in its column: “Thailand Needs to Invest in People, Not Rice” (July 12, 2013) said the Yingluck government’s subsidy on rice and other economic policies are for enriching the politically connected rather than the masses.
It said PM Yingluck’s recent economic priorities bear “troubling similarities to those of her exiled brother, Thaksin Shinawatra”. It said Thaksin’s much-vaunted Thaksinomics was no more than a “Tammany Hall-like doling out of cash in return for rural votes”.
The Bloomberg column also suggested Thailand spend more money on its people than rice, and build a more entrepreneurial workforce to escape its present status of per capital GDP of just about $5,000.
Vint Chavala
Lamphun
