Trade and a changing world
Farm and Ranch March 2, 2010 In an address to the recent U.S. Grain Council 7th International Marketing Conference, Carole Brookins, a policy and trade strategist, said a rebalancing of global wealth and power is one of the trends shaping the world today. Brookins explained what this means for the U.S. in international trade negotiations and trade competition. Brookins: “And we are not going to have the same amount of power because we don‘t control the same amount of the global economy anymore. We created wealth in the world. And countries themselves have created wealth for their own people. Emerging powers are establishing their own brands, supply chain dominance and their own models. And we are going to have to realize that they are going to teach us as well as we are going to teach them. This isn‘t a multi-polar world. This isn‘t us going and preaching to the rest of the world. This is our becoming part of the world and we are going to face wider competition to maintain growth and grow market size.” Brookins says China and India are leading this new world and they have over 40 percent of the world’s population and Islamic populations have the fastest growing birth rate. Brookins: “So my suggestion to you all is that you look east and south and Mecca for markets. East, south and Mecca.” Brookins said other world changing trends are a revolution in energy supply and markets, a rebellion against the modern food system and a resurgence of investment in commodities and agriculture. I’m Bob Hoff and that’s the Northwest Farm and Ranch Report on the Northwest Ag Information Network. ?
