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Steven Bond-Smith, senior research fellow at the Bankwest Curtin Economics Centre in Western Australia and incoming assistant professor at U-HERO
In a brief comparing these economies from the University of Hawaii Economic Research Organization, Steven Bond-Smith says the economies are relatively small scale, but still integrated as part of a globalized trade system. These economies, in order to compete, in order to be highly productive, they need to have a large-scale industry, Bond-Smith said. In Hawaii, the primary industry is tourism; in New Zealand, it s food and agriculture; and in Western Australia, it s iron ore.
However, external shocks - such as a drop in the price of iron ore and dairy, and fewer visitor arrivals - have led to recessions.
In this feature, I use the wheat sub-sector in Zambia to show that despite all the rhetoric about sector diversification, agriculture as a whole is still a neglected sector. Previous Governments, including the current Patriotic Front led Government have conveniently advanced agriculture narrowly around political lines (maize-centric) as opposed to wider economic considerations of various crop varieties that can contribute to not only job creation and income disbursement to local grower, but also value addition and exports growth. I argue wheat can be a wonder crop but continues to receive peripheral attention in policy and practice. There are reasons, and one points to failure to understand the role and importance of agriculture in its entirety. Using the wheat sub-sector, I show how.
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Federal investment of
$2.94 million will double BioNeutra s manufacturing capacity, enabling this growing firm to capitalize on global consumer demands and better compete in global markets
EDMONTON, AB, April 7, 2021 /CNW/ - Canadians have long demonstrated the determination and ingenuity needed to lead the development of innovative technologies and processes that advance the agriculture industry. The agriculture and agri-foods sectors are of vital importance to the Canadian economy, providing opportunities for value-added food and food ingredient manufacturing that support high-quality jobs for Canadians.
Government of Canada supports Alberta agri-food sector with investment in BioNeutra (CNW Group/Western Economic Diversification Canada)
Private sector roped in to boost economy.
Saudi Arabia announced plans on Tuesday to pump investments worth $3.2 trillion into the national economy by 2030, roping in the oil-reliant kingdom’s biggest companies in a major economic diversification push.
The announcement by de facto ruler Crown Prince Mohammed bin Salman underscores an effort to jumpstart the domestic economy as the top crude exporter battles high youth unemployment and a coronavirus-triggered downturn.
“The total investment injected. into the national economy is expected to reach 12 trillion riyals ($3.2 trillion) by 2030,” Prince Mohammed said in a speech carried by state television.
Twenty-four of the kingdom’s biggest companies, including energy giant Aramco and petrochemical firm SABIC, will lead the investment drive by contributing five trillion riyals ($1.3 trillion) over the next decade, he said.
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Funding helps fisheries comply with new safety guidelines, better manage inventory and help secure Canada s food system
EDMONTON, AB, March 17, 2021 /CNW/ - The women and men of Canada s fish and seafood processing sector are economic drivers across the Prairies and Western Canada and their contributions are vital to our national food supply chain. The sector faced immense challenges due to COVID-19, and the Government of Canada worked quickly to ensure they had the support it needed during this unprecedented time.
Freshwater fisheries across the Prairies get support from the Canadian Seafood Stabilization Fund (CNW Group/Western Economic Diversification Canada)