What Do Emerging Markets Have to Do With the High Price of Beef in the US?

I often encourage U.S. business owners to consider the growing number of consumers with greater purchasing power in developing countries as an additional market for their goods and services. Well, the impact of consumer demand in emerging markets, such as China, Brazil and Mexico, illustrate the benefits to some U.S. agricultural sectors, as in the case of beef production.

Check out CBS News contributor and analyst Mellody Hobson’s explanation of this trend on CBS This Morning, which aired today. Find out what this trend also means to U.S. consumers.

Usually, when I discuss the impact of international trade on consumers, I highlight the lower prices due to less costly imports. In the case of U.S. beef, the greater exports to countries with a high demand and the ability to purchase U.S. products have resulted in increased prices for U.S. beef consumers. At the same time, U.S. producers benefit from continuing to generate revenue and  eventually turn a profit from the high demand in emerging markets.

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About Dr. Sarita D. Jackson

is the President and CEO of the Global Research Institute of International Trade, a think-tank/consulting firm that examines trade policies and their impact on domestic businesses. Prior to heading GRIIT, Dr. Jackson was a tenured associate professor of political science in North Carolina and worked as a trade policy consultant for an Arlington-based consulting firm. She has participated in trade policy projects and conducted research on free trade negotiations in Botswana, Antigua and Barbuda, Dominica, Dominican Republic, Mexico and Panama. Dr. Jackson has also traveled to Chile and Argentina to study their political systems and economic integration policies.
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