For some reason, global press has been hotly against Thai PM Yingluck rice scheme, and have been on a mission to destroy the scheme. The attack is spearheaded by the likes of WSJ & Reuters, along with the local hate Yingluck press such as Bangkok Post. Thailand‘s rice scheme price competitiveness matrix, in the market place has been destroyed, as the rumor in Bangkok is that Yingluck will lower the price of rice Thailand sells globally, as WSJ and other press, refusing to publish Moodys latest report on Thailand. Moodys, a global credit rating agency still tarnished for missing the call on the last global financial crisis, earlier issued a report saying that Thailand’s long-term credit rating is at risk, from current losses, on the Yingluck’s rice scheme, potential causing Thailand’s government budget to miss a “balance budget target” some 4 – 5 years in the future. While that Moodys report relied on newspaper report, and since Moodys have made a new statement that Thailand’s public finance are robust and there is no risk, the damage has been done. The Yingluck’s government first reaction to the first Moodys report, is to sayMoody’s information is not correct. There has been little information provided by the Yingluck government. And also indeed, much of the information on the Yingluck rice scheme, has been kept a secret. Yingluck’s government have cited, “Competitiveness in the Market Place” as the reason to keep the rice scheme information, mostly a secret. Yingluck is correct here, that in normal business practice, information that could impact the price of a product, in the market place, are kept secret by most firms, as most businesses attempt to have control over pricing. However, as the information is kept secret, there is a risk, such as the risk Moody’s is creating, such as a lack of transparency have cause an alarm on credit rating. Moody’s assertion and its credit rating move, in fact, is Moody’s in-directly demanding, to Thailand’s state secret. That information, on Thailand state secret, will be available to all Moody’s customers. The rice scheme competitiveness profile will be destroy. What should Yingluck do? Will it be transparency or will it be competitiveness? Or will it be credit?
- Moodys & Thailand’s rice scheme! Will Yingluck choose transparency & credit rating over competitiveness? (thaishortnews.wordpress.com)
- Moodys say rating not under threat from Rice Scheme, farmers win & say thanks to Moodys (thaishortnews.wordpress.com)
- Bangkok Post, Nation & Thai Rath censors Yingluck supporting poll (thaijournalismwatch.wordpress.com)