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Full-Text Articles in International Economics

Implications Of The Gatt Agreement For Iowa Agriculture, John R. Kruse Aug 2015

Implications Of The Gatt Agreement For Iowa Agriculture, John R. Kruse

Iowa Ag Review

The FAPRI analysis indicates that nearly all U.S. agricultural commodities benefit under GATT, although some commodities experience larger impacts than others. CARD extended the FAPRI analysis to commodities important to Iowa, such as com, soybeans, and pork and found that all are significant winners under the Uruguay Round Agreement.


The Gatt Agreement: A Layperson's Description, John R. Kruse Aug 2015

The Gatt Agreement: A Layperson's Description, John R. Kruse

Iowa Ag Review

What is the General Agreement on Tariffs and Trade (GATT)? The GATT may be best described as an ongoing process through which trade distortions among countries are defined and targeted for reduction. There have been seven previous GATT agreements over the years. The recent GATT agreement represents the eighth round of trade negotiations and is often called the Uruguay Round in reference to Punta del Este, Uruguay, where the agenda was set in 1986.


International Developments, Karen Oerter Aug 2015

International Developments, Karen Oerter

Iowa Ag Review

The USDA preliminary estimates for 1994/1995 world soybean production are currently set at 127.75 mmt, or about 10 percent above the 1993/94 level. This increase is due primarily to a bumper crop in the United States, estimated as of August to be 62.12 mmt for the 1994/1995 crop year, which is a 26 percent increase over the 1993/1994 crop.


The Eu Export Tax: Impact On U.S. Markets, William H. Meyers, Steven L. Elmore Aug 2015

The Eu Export Tax: Impact On U.S. Markets, William H. Meyers, Steven L. Elmore

Iowa Ag Review

ln response to high world grain prices, the European Union (EU) introduced wheat export taxes in November 1995 for the first time in more than a decade. Normally, the EU offers export subsidies to make up the difference between their high internal grain prices and world market prices. However, EU internal support prices have been reduced over the last three years as a result of policy reforms. Recent high world grain prices have exceeded the EU support prices since early in the 1995/96 crop year. Rather than let internal prices follow world market prices upward, the EU decided to ...


Implications For U.S. Pork Trade Fouowing Taiwan's Export Ban, Jacinto F. Fabiosa, Frank H. Fuller Aug 2015

Implications For U.S. Pork Trade Fouowing Taiwan's Export Ban, Jacinto F. Fabiosa, Frank H. Fuller

Iowa Ag Review

Taiwan announced on Friday, March 21 , 1997, an indefinite ban on pork exports after an outbreak of foot and mouth disease. It is neither·clear at.this time how Jon!! the ban will ~ last nor the ful l impacts of this event. Although a terrible blow to Taiwanese producers. Iowa's primary agriculture will likely encounter increased demand, as the u:s. pork industry is well positioned to increase world market share. Iowa State University's FAPRI staff is engaged in analysis of this event.


Grains And Oilseed Cropland: A Global Perspective, James Rude, Steven L. Elmore, Darnell B. Smith Aug 2015

Grains And Oilseed Cropland: A Global Perspective, James Rude, Steven L. Elmore, Darnell B. Smith

Iowa Ag Review

Current tight grain markets have led some commentators to argue that the world is entering a phase of rising food scarcity. The present situation js related to the rise in world consumption, which has tended to outpace production during the 1990s. While most supply shortages were due to weather shocks, the global area planted to grains has decreased from 1,784 million acres in l 980to 1,718 million acres in 1996 (USDA). The question remains, "Are there enough land resources available globally to meetfutwe production needs?" The combined grains and oilseeds area has, however, increased tWer that same period.


The Potential Market For U.S. Pork Variety Meats In China, Dermot J. Hayes, Roxanne L. B. Clemens Aug 2015

The Potential Market For U.S. Pork Variety Meats In China, Dermot J. Hayes, Roxanne L. B. Clemens

Iowa Ag Review

Chinese consumers view products such as loins and tenderloins. as uninteresting and lacking in taste. Chinese dishes call for small pieces of strong-tasting products, and Chinese consumers will pay accordingly.


The Impact Of Eep Removal On U.S. Week, Samarendu Mohanty, Food And Agricultural Policy Research Institute Aug 2015

The Impact Of Eep Removal On U.S. Week, Samarendu Mohanty, Food And Agricultural Policy Research Institute

Iowa Ag Review

The Export Enhancement Program (EEP) was initiated under the Food Security Act of 1985. The purpose 9f the program was to offset the adverse effects on U.S. exports due to unfair trade practices or subsid'ies by competing exporters and also to support U ,S. prices. Supply restrictions, price supports, and export subsidies together have caused U.S. wheat prices to be above world prices over the past decade.


Grain Market Glut: Asia A Minor Player, William H. Meyers, Darnell B. Smith Aug 2015

Grain Market Glut: Asia A Minor Player, William H. Meyers, Darnell B. Smith

Iowa Ag Review

There is no doubt that we are in a grain market glut of global proportions, and it is fair to ask how we got here. It seems only a short time ago the big concern was low stocks and the possibility of market disruptions arising from yet another shortfall somewhere in the world. Since this market glut coincides with the Asian financial crisis, it has been easy to blame low prices on the collapse of Asian economic growth. However, Asia is a relatively small part of the story.


Agri Cultural Impacts Of China's Accession To The Wto, Frank H. Fuller Aug 2015

Agri Cultural Impacts Of China's Accession To The Wto, Frank H. Fuller

Iowa Ag Review

The People's Republic of China has requested- and will likely soon be granted- membership in the World Trade Organization (WTO). Given the size and importance of China's economy to the intemational market. both U.S. agricultural and nonagricultural markets will undoubtedly be a fleet ed significantly.


World Trade Impacts Of Foot-And-Mouth Disease In Taiwan, Food And Agricultural Policy Research Institute Aug 2015

World Trade Impacts Of Foot-And-Mouth Disease In Taiwan, Food And Agricultural Policy Research Institute

Iowa Ag Review

On March 21, 1997, Taiwan imposed an indefinite ban on pork exports following an outbreak of foot-and-mouth disease (FMD).1 Taiwan's major markets, including Japan, Korea, and Singapore, followed suit by banning imports of all pork and pork products originating in Taiwan. Pork is Taiwan's main agricultural commodity. both in value of production and in export earnings, and Taiwanese pork exports account for over 15 percent of the world total. Taiwan is also Japan 's predominant supplier of exported pork. Thus, Taiwan's export ban will have a significant impact on trade patterns and world pork prices. Using ...


Eu-U.S.Beef Hormone Trade Dispute, John C. Beghin Aug 2015

Eu-U.S.Beef Hormone Trade Dispute, John C. Beghin

Iowa Ag Review

This article provides a brief historical perspective of the beef hormone dispute between the European Union (EU) and the United States and reviews the scientific evidence of health risks associated with products from animals that have been administered hormones.


European Union Agricultural Reforms: Impacts For Iowa, Samarendu Mohanty, Philip Kaus Aug 2015

European Union Agricultural Reforms: Impacts For Iowa, Samarendu Mohanty, Philip Kaus

Iowa Ag Review

The European Union’s (EU) Common Agricultural Policy (CAP) is set to undergo comprehensive reforms, known as Agenda 2000, next year. The twofold objective of these reforms is to ensure the sustainability of European agriculture and to protect the livelihood of European farmers. In May 1999, the European Council officially adopted new financial and political guidelines—dubbed the Berlin Accord— that will increase government support to farmers through direct payments while reducing support prices for cereals, beef, and dairy products.


Dairy Policies Around The World: What Would We Gain From Getting Rid Of Them?, John C. Beghin, Frank H. Fuller Aug 2015

Dairy Policies Around The World: What Would We Gain From Getting Rid Of Them?, John C. Beghin, Frank H. Fuller

Iowa Ag Review

Despite the general globalization of agricultural markets, trade and production of dairy products are still highly distorted in most countries. This article discusses the impact of these distortions and the likely gains that would result from reforming existing policies.


Competitiveness And Protection Of Chinese Agriculture, John C. Beghin, Cheng Fang Aug 2015

Competitiveness And Protection Of Chinese Agriculture, John C. Beghin, Cheng Fang

Iowa Ag Review

I n the context of the likely accession of China to the World Trade Organization (WTO), it is useful to gauge the protection or taxation affecting the production of China’s major agricultural crops and to assess the competitiveness of these crops. Because Chinese agriculture differs by regions, we consider early indica rice, late indica rice, and japonica rice grown in different parts of China, south wheat, north wheat, south corn, north corn, sorghum, soybeans, rapeseed, cotton, tobacco, sugarcane, and a subset of fruits and vegetables. We use 1996 to 1998 data, which are the most recent available data.


Comparing Grain Transportation In The United States And Argentina, Thomas J. Goldsby Aug 2015

Comparing Grain Transportation In The United States And Argentina, Thomas J. Goldsby

Iowa Ag Review

Whether an individual or nation can compete in the global marketplace hinges on the ability not only to produce materials and goods demanded by customers but also to deliver those materials and goods in an efficient, timely, and safe manner. The transportation and logistics systems that serve a market are critical given that transportation costs typically represent more than one-half of a commodity’s total landed cost. The agricultural sector of the United States enjoys considerable advantages in grain movement and storage, helping to explain the overall trade advantage of the United States over Argentina in common export markets. It ...


Nafta: Implications For Mexican And Midwestern Agriculture, John C. Beghin Aug 2015

Nafta: Implications For Mexican And Midwestern Agriculture, John C. Beghin

Iowa Ag Review

The North American Free Trade Agreement (NAFTA) is a success story of economic integration between Mexico, the United States, and Canada. Economic integration was on its way before the Agreement, but it received a significant boost when NAFTA went into effect in 1994. Relative to the rest of the world, merchandise trade among the three countries has intensified and is growing at a rate of about 10 to 12 percent a year. With respect to agriculture, Mexico exports fruits and vegetables, coffee, live cattle, and textiles, among other things, to the United States. The United States exports grains and feed ...


U.S. Farm Policy And The Wto, Chad E. Hart, Bruce A. Babcock Aug 2015

U.S. Farm Policy And The Wto, Chad E. Hart, Bruce A. Babcock

Iowa Ag Review

How is your proposal WTO-compliant? This is a question that farm groups must be prepared to answer when they travel to Washington looking for increased subsidies. That an international trade agreement should be playing such a prominent role in shaping U.S. farm programs may be surprising. But this prominence is likely to continue as long as the United States remains committed to expanding world trade through negotiated agreements.


China’S Accession To The Wto: Effects On U.S. Pork And Poultry, John C. Beghin, Jacinto F. Fabiosa Aug 2015

China’S Accession To The Wto: Effects On U.S. Pork And Poultry, John C. Beghin, Jacinto F. Fabiosa

Iowa Ag Review

The Food and Agricultural Policy Research Institute (FAPRI) recently analyzed the impact of China’s accession to the World Trade Organization (WTO) on major agricultural markets, relative to the 2001-2010 FAPRI baseline. Consistent with the intuitive consequences of productive land scarcity in China, the FAPRI analysis suggests that China does not have a comparative advantage in feed crops and, hence, in livestock production. The FAPRI analysis finds that the Chinese oilseed crushing, grain, and livestock sectors are negatively affected by WTO accession. The reduction in domestic feed prices initially stimulates Chinese meat and dairy production and actually decreases imports for ...


Who Is Afraid Of The “Precautionary Principle”?, Giancarlo Moschini Aug 2015

Who Is Afraid Of The “Precautionary Principle”?, Giancarlo Moschini

Iowa Ag Review

The recent European Union (EU) draft legislation on labeling and tracing all food and feed consisting of, containing, or produced from genetically modified (GM) organisms has the potential to significantly affect long-run U.S. agricultural exports to Europe. For the last three years, a de facto moratorium has halted approval of new GM varieties in the EU. Whereas the proposed new EU legislation may help resolve this impasse, the details of this draft legislation are raising considerable concern in the U.S. agricultural community and, if approved, are likely to give rise to a serious trade dispute within the World ...


Trade, Wealth Creation, And American Agriculture, Bruce A. Babcock Aug 2015

Trade, Wealth Creation, And American Agriculture, Bruce A. Babcock

Iowa Ag Review

Why do we trade? Most Americans would answer this question with some reference to the benefits of expanded markets for U.S. goods and more job opportunities. However, if asked the question, why do we work? most would respond that we work to earn money so that we can buy things. At a personal level, we intuitively know that trading our specialized labor with others (using money as the means of transactions) gives us a higher standard of living than if we tried to produce everything ourselves. We know and act on the knowledge that specialization enhances our individual wealth ...


Meat Traceability: Its Effect On Trade, Roxanne L. B. Clemens, Bruce A. Babcock Aug 2015

Meat Traceability: Its Effect On Trade, Roxanne L. B. Clemens, Bruce A. Babcock

Iowa Ag Review

Several livestock and meat-related crises have given rise to increased worldwide consumer concern over meat safety and an increased desire for information about the meat products they purchase. During the past several years, a series of food safety and animal disease crises has occurred in the European Union (EU), including dioxin contamination of livestock feed, the announcement of the possible link between Bovine Spongiform Encephalophathy (BSE) and new-variant Cruetzfeldt-Jakob disease, and outbreaks of foot-and-mouth disease and classical swine fever. Many EU consumers have lost confidence in the safety of meat products (especially beef) and in the ability of regulatory agencies ...


The Cost Of Food Self-Sufficiency And Agricultural Protection In South Korea, John C. Beghin, Jean-Christophe Bureau Aug 2015

The Cost Of Food Self-Sufficiency And Agricultural Protection In South Korea, John C. Beghin, Jean-Christophe Bureau

Iowa Ag Review

South Korea has the most supported agricultural sector among member countries of the Organization for Economic Cooperation and Development (OECD). Public intervention mainly consists of high production prices supported by government purchases, together with high tariffs that protect domestic producers from foreign competition and implicitly tax consumers. Trade liberalization recently took place in particular sectors, and Korea is now a major importer of oilseeds and coarse grains. However, Korea only reluctantly exposed its agricultural sector to the provisions of the Uruguay Round Agreement on Agriculture (URAA) of the World Trade Organization (WTO). It has kept nearly prohibitive tariffs in the ...


Supporting U.S. Agriculture Under World Trade Organization Rules, Bruce A. Babcock, Chad E. Hart Aug 2015

Supporting U.S. Agriculture Under World Trade Organization Rules, Bruce A. Babcock, Chad E. Hart

Iowa Ag Review

For the fourth straight year, market prices for Midwest crops are low. Central Iowa soybean prices hover around $4.00 per bushel. Corn prices are around $1.80 per bushel, and wheat markets remain stuck at below $3.00 per bushel. What to do about these low prices has occupied a great deal of Congress’s time as it attempts to craft new farm legislation. Nearly all farm bill proposals would continue to provide farmers levels of support much higher than those offered by the market.


The Eu-U.S. Hormone Dispute: The Negotiations Continue, Roxanne L. B. Clemens Aug 2015

The Eu-U.S. Hormone Dispute: The Negotiations Continue, Roxanne L. B. Clemens

Iowa Ag Review

The European Union’s ban on hormone-treated beef remains one of the United States’s most contentious agricultural trade disputes. Iowa Ag Review last addressed this dispute in the Summer 1999 issue, just after the World Trade Organization (WTO) arbitrator had ruled that the EU ban was inconsistent with WTO sanitary/ phytosanitary principles relating to risk assessment. This article updates negotiating activities and issues regarding the hormone ban.


Rich Countries, Poor Countries, And The Doha Round Trade Negotiations, John C. Beghin Aug 2015

Rich Countries, Poor Countries, And The Doha Round Trade Negotiations, John C. Beghin

Iowa Ag Review

A common criticism of domestic agricultural spending in the United States and European Union is that support for U.S. and EU farmers hurts the economies of low-income countries. Addressing this criticism is key to moving forward in the current Doha Round negotiations of the World Trade Organization (WTO). CARD initiated a study to better understand the link between rich-country agricultural support and poor-country incomes.


Cuba: An Emerging Market For Iowa Agriculture?, Tim Rial Aug 2015

Cuba: An Emerging Market For Iowa Agriculture?, Tim Rial

Iowa Ag Review

Despite the collapse of communist political societies nearly a decade ago, Cuba remains an interesting mix of economic planning, social welfare, and intellectual achievement. Though urban decay and inadequate infrastructure suggest that Cuba has failed to achieve its utopian dream of social and economic justice, a deeper analysis of the food rationing system shows the country is clearly a master of economic scarcity, of making a little go a long way.


U.S. Agriculture And The Value Of The Dollar, Chad E. Hart Aug 2015

U.S. Agriculture And The Value Of The Dollar, Chad E. Hart

Iowa Ag Review

Roughly 20 percent of U.S. agricultural production is exported to other countries. So our competitiveness in export markets is crucial to the stability and growth of U.S. agriculture. One of the fundamental factors in our competitiveness in export markets is the currency exchange rate. The currency exchange rate is the ratio of the value of a nation’s currency to the value of another nation’s currency. Many factors affect exchange rates, including the countries’ macroeconomic policies, fiscal situation, and expected economic growth. Changes in the exchange rate affect our agricultural trade competitiveness because they indicate relative changes ...


Integration In The North American Livestock And Meat Industries, Roxanne L. B. Clemens Aug 2015

Integration In The North American Livestock And Meat Industries, Roxanne L. B. Clemens

Iowa Ag Review

No abstract provided.


Agricultural Biotechnology And Trade: The Unresolved Issues, Giancarlo Moschini Aug 2015

Agricultural Biotechnology And Trade: The Unresolved Issues, Giancarlo Moschini

Iowa Ag Review

To observers contemplating the failure of the Cancun ministerial meeting of the World Trade Organization (WTO) in September 2003, the United States and the European Union appeared to stand on the same side of the disagreement that stalled efforts to advance the Doha Round of multilateral trade liberalization. Poor countries wanted real reduction in the widespread agricultural subsidies that depress world prices in commodities that are critical to development. The United States and the European Union, on the other hand, insisted on a more comprehensive approach to liberalization, including pushing the WTO into new areas (such as rationalization of inefficient ...