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by sfifs
3618 days ago
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In general, it's a foolish idea for regions to give up agricultural capability because the fickle nature of international politics and economics means it is next to impossible to always guarantee food supply through trade. What if your current comparative advantage gets lost due to development elsewhere? Your exports will no longer earn you the foreign currency you require to import food (look at Venuzvela for a recent example or the disaster of Haiti where IMF prescribed food imports or India's famines of the 1960s) This is the reason nations heavily subsidize agriculture even when they can rely purely on imports. |
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