Global Economic Prospects 2014

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Submitted by Irina on
The restrictions on export, such as on import, bring to economic imperfections, as we all know. Now, in a competitive market the outgoing supplier could be replaced in the relatively short time by a new incoming one; but this is an inflexible market, therefore, in my opinion, it will be difficult for the importers to find a new grain supplier at least for this year. Furthermore, the restriction of the supply means the rising of the price; the consequence is that the importer countries will purchase less quantities at a higher prices. Will this bring to the rise of the hunger in the world? Nobody knows. The alternative supplier (wealthy) countries will continue to stay good, if not better, either if the global demand withdraws or it remains the same making prices, not only of the grain, surge; but this accordingly increases the average price level, in other words the inflation. Could this be seen as a positive effect, on the outsider front, for the exporter countries, giving them more purchasing power against the importer ones?