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Diane Publishing Books
What the 2008/2009 World Economic Crisis Means for Global Agricultural Trade
Mary Peters (au); Matthew Shane (au); David Torgerson (au)
The global economic crisis that started in late 2008 has led to a sharp curtailment of international trade, including a short-term decline in the value of global agricultural (ag.) trade of around 20%. Global ag. trade after slowing will continue to grow in the future. Economic growth prospects of emerging and developing countries will be important in determining composition of trade toward increased high-value products. The crisis is leading to a realignment of exchange rates, and the ultimate resolution of the crisis will depend on adjustments in the exchange value of the U.S. dollar. The U.S. ag. sector would benefit from a depreciating dollar, which results in high export earnings, high ag. commodity prices, increased production, and increased farm income. Illus.
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