IARN — When we heard earlier from U.S. Soybean Export Council’s (USSEC) Jim Sutter, we were talking about the general economic situation and what that does to a global consumer. We talked about how the effects of the economy are very different in America than in parts of the developing world. Countries that were just starting to see the emergence of a middle class are now trying to see if that group can maintain an improving way of life.
For the past few years, Jim and I have discussed the “emerging markets.” While this has always been a focus for the USSEC, it became a larger focus during the trade war with China. It was imperative for all agriculture commodity groups to strengthen their relations with other countries because we were really realizing how much our trade was depending on China. That’s not to say we still don’t need the purchasing volume of a place like China, but we also must serve other markets as well.
However, the excitement that was building over more emerging middle-class markets has been tempered in this recent financial situation. With things being where they are, Jim Sutter explains how we can still get the most bang for the buck in our trade relationships.
For more on this story, visit the Iowa Agribusiness Radio Network.
