Govt should examine how the wealthy got rich
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Re: Real reform can't begin without tackling old ailments, Thai Talk, April 16, 2015.
Suthichai Yoon was right in saying that the lack of free and fair competition in the economy is one of the many critical factors that are plaguing our country.
A good example is a businessman who dominates a key sector. It would seem this person has done a good service for the country.
But if we look closer into this business, some mind-boggling thing is happening.
Thousands of farmers lured into a “contract farming” system introduced by a company under this tycoon’s control – are faced with insurmountable debts; some have become bankrupt.
This tycoon’s company has copied this contract-farming model from the US, where a number of farmers have committed suicide after having become heavily indebted and bankrupt.
It is ironic that each year, a US-based business magazine lauds the well-to-do from the developing world such as this tycoon, who become richer by sucking the money and livelihood from the poor in their own countries.
Vint Chavala
Bangkok
