Yingluck's Misguided Rice Policy

The ability of Southeast Asian nations to screw up the one grains market for which they are a key part of international trade seems to know no bounds. Three years ago it was the Philippines and Vietnam which together conjured up a crisis, one by exaggerating the amount of rice it needed to buy and Vietnam by limiting exports to keep local prices low, thus driving international ones to crisis levels, particularly for the poor in import-dependent countries.

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