The accolades from the Truthers about this.
China has agreed to lift its extensive limits on the import of U.S. beef, lower restrictions on imports of wind turbines and telecommunications equipment, and take an array of other steps that U.S. officials say could lead to a substantial boost in U.S. exports to the world's second-largest economy. [More]This is a big deal for corn farmers as well. Not only could this support beef prices high enough to keep from destroying demand, as the yuan slowly but inexorably increases in value, the beef price could anchor the whole protein complex.
It is mixed news for consumers. Beef will get more expensive as we increasingly have to compete with Chinese consumers. Given the grim health news that assuredly is linked in part to our poor dietary habits, maybe sharing our abundance of beef (for profit, of course) and eating smaller portions could actually help ourselves, while not hurting the cattle industry.
At the very least, this demand boost makes the battle for acres to supply enough corn ratchet up one more notch, IMHO.
Of course, this breakthrough is the product of hard work by many despised bureaucrats and diplomats, not directly due to presidential effort. But as the pattern is to blame the top for all the failures on the watch, Obama should be given some credit.
Now it will be interesting to see if along with whacking land value increases, massive income tax breaks, estate tax relief, guaranteed access to health insurance, etc. this trade boost will cause any rethinking about our political affinities in farm country.
C'mon, it could happen...