People in the global south have to produce their own

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People in the Global South have to produce their own food because they can’t afford the more technical food that the Global North has access to - Key players: o State-led, private foundations and development agencies o Governance takes place beyond the state The Neoliberal Moment - Agricultural trade policy was liberalized in the Global South in the 1980s through to today (Structural Adjustment Programs) o Haiti could focus on producing food for those that live in Haiti because they didn’t have trade tariffs - Lower tariffs on imports, which undercut domestic agricultural industries o Consider the Trans Pacific Partnership, which will increase dairy imports and threaten the Canadian dairy industry - “Western” and countries from the Global North slow to reduce subsidies - Market governance and transnational organizations such as the IMF, World Bank, and World Trade Organization o Funded through these global organizations, making it controlled by them The Corporation of Food - Corporations have moved beyond the marketing of food and are now involved in global- scale sourcing and processing operations - Development of hybrid seeds and genetically-modified crops o Seeds become private property o Seeds owned by 3 corporations o Seeds are genetically modified not to reproduce by themselves Can go back to the company to produce more - Huge pricing power on both the production and consumption ends of food o Loblaws price fixing scandal Colluding with bread companies to raise their prices to make more profit - Significant capacity to shape governmental policy Financialization of Food - The “price” of food is increasingly disconnected from its use o Disconnected from supply as well o Prices are produced through supply and demand Prices are actually produced through financial speculation - Food is more and more seen as a commodity tied to the activities and trends in the financial sector o Future markets: what will the market look like in the future o Speculation: what we think and assume will be the big changes in food and prices
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- Global food availability and access to food increasingly tied to speculative trends o 2008 has massive spike in food crisis : some because of biochemicals, but a huge part is because people speculated a massive increase in food prices so people bought more and this made prices actually go up and then wasn’t affordable anymore - Food shortages and food riots one consequence of financialization of food - The price of future food changes every day based on investor situations and the consumption that is needed for it to be successful
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