In retaliation for US and EU sanctions, Russia is banning the import of all agricultural products from the US and the EU for one-year. Regardless of the timeline, these export contracts will not return. This could mean lower prices for American consumers in 2015 and 2016 (operative word is could.) Meanwhile, more Russian children will go hungry, as prices there will increase significantly in the short-term. The most significant effect, however, will be an even stronger China. Their agricultural machine will more than make up for the shortfall by 2016. In the last six years, the power of Americas global influence has been decreased to the likes of a mild suggestion. We have went from Uncle Sam to Uncle Buck.
Posted on: Wed, 06 Aug 2014 22:08:48 +0000
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