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Arabica Robusta

Argentina and the magic soybean: the commodity export boom that wasn't | Mark Weisbrot ... - 1 views

www.guardian.co.uk/...tina-magic-soybean-export-boom

food security international development agriculture crisis agribusiness foodsecurity commodity

shared by Arabica Robusta on 02 Jun 12 - No Cached
  • One of the great myths about the Argentine economy that is repeated nearly every day is that the rapid growth of the Argentine economy during the past decade has been a "commodity export boom". For example, the New York Times reported last week:
  • I haven't seen any economists make the claim that Argentina's remarkable economic growth over the past nine years – which has brought record levels of employment and a two-thirds reduction in poverty – has been driven by soybeans or a commodities export boom. Maybe that is because it is not true.
  • It turns out that only 12% of Argentina's real GDP growth during this period was due to any kind of exports at all. And just a fraction of this 12% was due to commodity exports, including soybeans. So Argentina's economic growth from 2002-2010 was not an export-led growth experience, by any stretch of the imagination, still less, a "commodities boom".
  • ...3 more annotations...
  • there is no plausible story that anyone can tell from the data to support the idea that Argentina's growth over the past nine years was driven by a "commodities boom." Why does this matter? Well, as economist Paul Krugman noted yesterday, "articles about Argentina are almost always very negative in tone ― they are irresponsible, they are renationalizing some industries, they talk populist, so they must be going very badly." Which, he points out, "doesn't speak well for the state of economics reporting." It sure doesn't.
  • The myth of the "commodities export boom" is one way that Argentina's detractors dismiss Argentina's economic growth as just dumb luck. But the reality is that the economic expansion has been < a href="http://www.cepr.net/index.php/publications/reports/the-argentine-success-story-and-its-implications">led by domestic consumption and investment. And it happened because the Argentine government changed its most important macroeconomic choices: on fiscal, monetary, and exchange rate policies. That is what took Argentina out of its 1998-2002 depression and turned it into the fastest-growing economy in the Americas.
  • By defaulting on its debt and devaluing its currency, Argentina was freed to change its most important macroeconomic policies.
Arabica Robusta

Mark Weisbrot, "Argentina and the Magic Soybean: The Commodity Export Boom That Wasn't" - 0 views

mrzine.monthlyreview.org/...weisbrot040512.html

food security international development agriculture crisis agribusiness foodsecurity biofuels argentina soybean

shared by Arabica Robusta on 02 Jun 12 - No Cached
  • One of the great myths about the Argentine economy that is repeated nearly every day is that the rapid growth of the Argentine economy during the past decade has been a "commodity export boom."  
  • I haven't seen any economists make the claim that Argentina's remarkable economic growth over the past nine years -- which has brought record levels of employment and a two-thirds reduction in poverty -- has been driven by soybeans or a commodities export boom.  Maybe that's because it's not true.
Arabica Robusta

What's the new global source for fresh, shiny produce? Famine-ridden Ethiopia - 0 views

farmlandgrab.org/14917

food security international development crisis agriculture agribusiness foodsecurity ethiopia middle east

shared by Arabica Robusta on 21 Aug 10 - Cached
  • Every day, a workforce of 1,000 locals pick, pack and load hundreds of tons of fresh produce onto waiting trucks, including 30 tons of tomatoes alone. After reaching the capital, Addis Ababa, the produce is flown to a handful of Middle Eastern cities, entirely bypassing Ethiopia, one of the hungriest places on the planet. The trip from vine to store shelf takes less than 24 hours. It’s the latest project by Saudi oil and mining billionaire, Sheikh Mohammed Al Amoudi. And it may be the future of farming.
  • The controversial trend has been dubbed “outsourcing’s third wave”—following manufacturing and information technology (IT) in the ’80s and ’90s. The high cost of installing irrigation systems, and importing fertilizers, combines and tractors is no deterrent. Defenders of the new projects say they’re bringing desperately needed new technologies, seeds and investment to Africa. But opponents see the trend as a “land grab” that is forcing poor farmers off their land, and benefiting only the governments inking the deals.
  • The new scramble for Africa was triggered by a convergence of events: surging demand for biofuels, rising consumption patterns in China and India and the 2008 global food crisis, when the price of corn and wheat tripled, almost overnight. Responding to sudden hyperinflation, rioting and panic buying, at least 30 countries, including Argentina, Vietnam, Brazil, Cambodia and India, banned or sharply reduced food exports. In short order, Japan and South Korea, who import 70 per cent of their grains, joined a parade of countries turning to Africa to lock in means of production beyond their borders.
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  • When it emerged that Daewoo, the South Korean giant, had signed a 99-year lease granting it close to half of Madagascar’s arable land, protests broke out in Antananarivo, the country’s capital, eventually sinking both the deal, and the president.
  • as Heilberg told the German magazine Der Spiegel after closing the deal in Darfur, “When food becomes scarce, the investor needs a weak state that does not force him to abide by any rules.” Sudan, a dictatorship ranked among the five most corrupt countries on the planet, certainly qualifies. Heilberg’s deal was approved by the deputy commander of Sudan’s People’s Liberation Army (SPLA), the official army of semi-autonomous southern Sudan. “This is Africa,” he recently told Rolling Stone. “The whole place is like one big mafia. I’m like a mafia head. That’s the way it works.”
  • Some African intellectuals bridle at Western criticism of the play on Africa. “They’re here because we want them here,” says Teshome Gabre-Mariam, one of Ethiopia’s top lawyers. “We can’t ignore the development potential of this venture. We have everything to gain, nothing to lose.”
  • Arabica Robusta on 21 Aug 10
     
    Every day, a workforce of 1,000 locals pick, pack and load hundreds of tons of fresh produce onto waiting trucks, including 30 tons of tomatoes alone. After reaching the capital, Addis Ababa, the produce is flown to a handful of Middle Eastern cities, entirely bypassing Ethiopia, one of the hungriest places on the planet. The trip from vine to store shelf takes less than 24 hours. It's the latest project by Saudi oil and mining billionaire, Sheikh Mohammed Al Amoudi. And it may be the future of farming.
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