Last year's floods cost Thailand more than 1 trillion baht thanks to a perfect storm of years of insufficient infrastructure investment, poor crisis management, haphazard zoning and unusually heavy seasonal rains.
A worker shovels rice at a mill. The government’s rice pledging scheme threatens to be the most costly on record and it is pricing Thai rice out of the global market.
It's a political miracle of sorts that Prime Minister Yingluck Shinawatra has survived. She might not be so fortunate in reckoning with the next flood, namely the government's bet-the-farm strategy to buy out the country's entire rice harvest in an ill-conceived bid to corner the world rice market.
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