The rice scheme isn't a subsidy, it's a guarantee to buy any amount of rice at a set price regardless of market conditions. That's effective nationalisation. And those farmers still haven't been paid. The rice scheme doesn't create *any* money. It cost Thailand tens of billions because they government ridiculously thought they could alter the world market price by setting their own price. What actually happened is that people bought their rice elsewhere, and now Thailand has a stockpile of billions of tons of rice sitting around that nobody wants to buy.
And it's pretty silly to say that's their only bad policy. It was the one that got Yingluck booted out though. The utter stupidity of this policy alone shows that the government is not fit to govern. A 15 year old child could have told them their plan wasn't going to work.
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zimbabwe on the other hand is a failed state with hyperinflation and a barter economy.
Zimbabwe is a failed state because the government stole everything from what they viewed as the undeserving rich and gave it to the poor, who had no idea what to do with and subsequently starved. Which is kind of what the Shinawatras have been doing to Thailand over the last 10 years, albeit on a much less drastic scale.
Prior to that happening, Zimbabwe (Rhodesia) was the most successful country in Africa.
Last edited by PokerSpiv; 05-07-2014 at 04:59 AM.