International Economics: IB Economics

This International Finance Corporation clip looks at how a scheme to promote macadamia nut planting in Malawi has enhanced the incomes and development prospects of the farmers who've benefitted. 

This World Bank clip - one of several - I'm not going to scoop them all - focuses on how the organisation is improving food security across the world. In this case, it looks at how the bank has enhanced resilience in Jordan by focusing on improving water efficiency, investing in climate-smart technology and making agriculture more sustainable, using hydroponic and aeroponic technology. 

The UN worries that climate change related events are ever more likely to drive up food prices - the risks range from forest fires to energy outages making it harder to store fresh food. However, there are a number of ways that these effects can be mitigated. 

That said, it rather implies that food security might diminish going forward, and that has adverse developmental impacts. 

Another World Bank clip looking at sustainability, and how climate change is impacting Indian agriculture, and how this is exacerbated by the unintended effects of government policy.

It's an interesting insight into how policy issues are interlinked, and how appropriate policy can improve the prospects for sustainable development.

Technology and development - always a favourite. In this BBC piece, the impact of technology on South African farmers is examined. Clearly, commercial agriculture will be able to obtain economies of scale; however, this article looks at whether technology, and agri-tech start-up Khula! can offset these cost advantages.  

This FT clip looks at the rise of Brazil as an agricultural powerhouse, as well as the fact that small-scale farms - which represent 80% of all farms, and produce 23% of output - might be missing out.

They only receive 14% of all investment in the sector, and this means that they are under-represented in this regard, imperilling them. The clip looks at how the private sector has stepped in to support them in the absence of the proper support from the financial sector. Even so, this lack of appropriate investment has increased inequality and increased poverty. 

Another clip showing the importance of irrigation to food security and, by definition, development. This time the World Bank is funding work in Afrghanistan.

This is an interesting look at global agriculture: how can we over-produce food and yet have millions of people who are malnourished, as well as generate large amounts of both food waste and greenhouse gases.

The key it seems is asymmetric information and the transaction costs, both things that the World Bank are trying to overcome via the application of digital technologies. This gives an overview of how this is meant to work increasing efficiency, inclusivity and environmental sustainability.  

Another example of how targeted policy, and partnerships between international financial institutions and the private sector can enhance development in remote areas.

In this case, the rural poor in Papua New Guinea's Highlands are benefiting from the development of new infrastructure and a refrigerated supply chain, and consumers in the capital, Port Moresby, are no longer having to import as much food as before, which is also good for the environment. 

This BBC clip looks at the impact of President Trump's trade war with China on US farmers, noting a marked increase in bankruptcies, partially as a result of exports to China halving. 

And most interestingly, in marginal states, like Wisconsin and Pennsylvania, which narrowly voted Trump last time, this might be enough to shift sentiment. 

This World Bank clip looks at how the World Bank is providing phone support to farmers - another innovative solution, hopefully boosting agricultural productivity and overcoming the difficult security situation.

Another innovative approach to a developmental problem.

Pistachio groves and development, via the World Bank.

That's nuts!

This Guardian article looks at another adverse effect of President Trump's aggressive trade policy on American interests. In this case, the article suggests that US farmers are faced with a situation where they are choosing to plough under their crops, in search of better prices next year.

Proof, if it were needed, that tariffs have a malign influence in all sorts of unexpected ways. 

The Head of the WTO, Ngozi Oknojo-Iweala has argued that nations need to reconsider their agricultural policies and subsidies in the light of both their impact on world trade and climate  change. She argues that $1.7 trillion in subsidies is given to inappropriate things, such as fossil fuels, when they should be targeting cleaner alternatives such as clean stoves. 

And here's an Australian perspective on the UK-Australia trade deal: it's now the case that 99% of Australian exports are going to be duty free under the deal, and the Australians think this is going to be good news for the agriculture sector in particular. 

This BBC article looks at how rising fertiliser prices have affected global agriculture, noting that dramatic rises in fertiliser prices in the developed world may well be a good thing, in driving farmers towards alternatives, with chemical fertiliser potentially being seen as a demerit good. 

However, it may be a bad thing in developing economies, where lower incomes, lower levels of demand may mean that chemical fertilisers are actually under-consumed. It also highlights the impact of the Sri Lankan ban on chemical fertilisers and the adverse effect that this has had on agricultural productivity there. 

Crack out the bunting - another fabulous free trade deal with a small nation 12,000 miles away has been signed to replace the one with the world's largest economic bloc on our doorstep. Supporters say that it's likely to boost bilateral trade by 60%, farmers fear that they will be undercut by the Kiwi competitors- and there's a fascinating story there about why the removal of agricultural support in the 1980s made them more competitive.

Critics, however, suggest that in 2019 New Zealand accounted for 0.25% of our exports and 0.15% of our imports. So a 60% increase in bilateral trade is worth well, around £600m - effectively nothing in trade terms. 

There's currently a raft of clips on YouTube highlighting the importance of having official proof of identity to access essential services such as healthcare, education and financial services.

In this instance, the clip looks at the developmental impact of having these sorts of documents for farmers in Rwanda, and tells an optimistic story of how it allows them to connect with various services boosting their living standards.

Excellent World Bank clip looking at how Africa's recovery will need to focus on upskilling the work force, particularly women and girls, in new digital technologies. 

The widespread adoption of the latest technologies have the capability of enhancing development post-pandemic. 

This BBC piece looks at the impact of the pandemic on Europe's food producers. Fishermen have stopped going to sea because a fall in demand for fish has driven down the price of fish, elsewhere cheese is rotting, there's a mountain of potatoes and the asparagus harvest is poor. 

Lots to think about - food producers making losses and the potential implications of this for Europe's food security.

He just can't help it, can he? The President of the United States has reintroduced tariffs on Brazilian and Argentinian steel, among other things, in response to their weaker currencies making their exports cheaper. 

He has chosen to interpret this as a competitive 'devaluation' of their currencies - which is a pity because floating currencies 'depreciate' rather than be devalued. And it also suggests that the he's chosen to overlook the factors that have caused this, notably the economic crisis in Argentina.

'Twas ever thus: an ignorant man with power throwing his weight around, not on the basis of good policymaking, but in a desperate attempt to shore up his vote among the farming community, who have been some of the hardest hit by his economic policies. 

The net effect of global heating for European farmers isn't going to be positive, according to the European Environment Agency.

However, whilst this sounds plausible, it would be interesting to see how we 'know' this. Can we have definitive estimates about future weather patterns, about future improvements in agricultural productivity? It begs some interesting questions about how we know these things.

A nice World Bank clip that highlights how female empowerment can enhance developmental outcomes. In this instance, the National Horticulture and Livestock Project transforms illiterate rural women into kitchen gardeners able to earn an income, boosting living standards for their families in rural Afghanistan.

Wowsers! If there's another clip likely to win 'scoop' of the day, this sets the bar pretty high. It's a fantastic developmental clip looking at the importance of information in generating efficient markets, as well as highlighting the developmental power of technology.

Esoko, a Ghanaian start-up, is providing up-to-the-minute pricing information to Ghanaian farmers, empowering them, enabling them to get a fair price for their crops and taking power away from the middleman.