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...agronomist and food-processing technologist in several African countries, India and Indonesia [Oct. 26]. I completely agree that Western countries, development organizations and the Food and Agriculture Organization have neglected small-scale farming in the developing world, destroying rural economies under a growing population (thanks to health programs, better drinking water, etc., where so much of the money went). This is the single most important reason why 50 years of development aid did not work in Africa. But the agricultural policy, the food-aid policy and the trade barriers of the European Union and the U.S. have also done much...
...agricultural crises as family land divisions become ridiculously small. The solution is large-scale, privately owned farming corporations that are legally bound to provide housing, medical, pension and educational facilities for all employees and their families. This lifts the agricultural peasantry into the middle class where they produce fewer, better educated children; it allows larger profits which results in better R&D and farming methods, better forecasting of which crops to plant to meet demand, improved ability to change crops when needed, and better and cheaper transport for harvests to market. If you truly want to end poverty, start...
...services produced here, we feel will no longer serve us." This is especially true because China, which is poised to overtake Japan as the world's second largest economy, is an increasingly important trading partner for countries such as Japan, South Korea and Indonesia. "Asian firms would do better to reorient their exports and production towards meeting the demand of Chinese consumers," says Kit Wei Zheng, a Singapore-based economist with Citigroup. "Firms that refuse to change strategy to cater to Chinese demand will sooner or later find themselves overtaken by competitors and abandoned by investors...
...trails that of residents of the major urban centers creating a mass of 900 million people who still tend to be very heavy savers. Huang suggests that China needs to act aggressively to boost rural incomes, by, for example, extending banking systems deeper into the countryside to give farmers better access to credit to start small businesses. MasterCard's Hedrick-Wong argues that China should also open up service industries now dominated by large, state-owned companies, such as finance, to allow new entrepreneurs to flourish, creating more jobs with higher wages...
...third last year when his company was hit hard by the financial crisis, but that hasn't stopped him from spending. With China's future so bright, he doesn't worry too much about saving for the future. "Judging from my job, my life, I think everything will become better and better," Lu says. And maybe for the entire world economy as well...