FOOD FOR THOUGHT

ALTERNATIVE MEDIA on Argentine topics

Argentina – Stretching Bonds with China

Argentina’s relationship with China is currently deepening due to larger interest by the Asiatic giant in soy and agro-food.
Both countries have just signed reciprocal agreements in order to increase economic exchange last week. A delegation of Chinese businessmen and officials were welcomed by the Secretary of Foreign Affairs and the President so as to reinforce the commitment and find different others industries to develop in conjunction.
According to data released by the Pekin’s custom, Argentina exported 461,000 tons of soybeans to China in January 2012 – five times the amount in January 2011 –.
Both countries also signed a sanitary protocol which will allow the Argentina to export of maize products to the Asian nation.

CORPORATE MAINSTREAM MEDIA on Argentine topics

Argentina spending more than it produces; “default situation” can’t be discarded

By Diana Mondino  

Argentina currently consumes more than it produces and only with strong growth can it avoid another default situation since liabilities continue to increase, warns economist Diana Mondino.

 “Argentina has already consumed its assets in energy, agriculture, pension funds, central bank and expenditure continues to expand” points out Mondino adding that government spending has ballooned in the last decade but particularly in the last two years, “well above the production and growth capacity of the economy”.
Social Security, Anses, already consumes almost a third of GDP, leaving aside law and order, education, health, which means the fiscal load must be particularly burdensome to meet those expenditures, 40% tax pressure, one of the highest in the world, except for Scandinavian countries.
“And in spite of the taxing pressure the government had to appeal to some of the ‘jewels of the crown’, such as energy, agriculture, pension funds, Central bank reserves, and yes what we managed was a consumers’ boom”.

Diana Mondino at S&P Argentina!!!

In the first 18 months after Diana Mondino and Viviana Zocco had sold their credit rating firm to Standard & Poor's (S&P), business had soared. The young entrepreneurs had not only received a decent sum for their company, they had also received considerable support to grow their business and their own talents. All of the analysts, including the two managing directors, were participating regularly in S&P's highly regarded educational programs.

 Comment:

To be associated with Standard & Poor's means the author of above article promotes international financial and economic institution doctrines which in many cases have proven devastating for countries applying such measures. These international vulcher financial institutions are trying everything to force Argentina into adhering to their doctrines.

Since Argentina has been defying these doctrines successfully, powerful international financial institutions use every possible means to combat Argentines’ resistance and thus use mainstream media and finance lackeys, reporting and distorting humbly what Corporate Media and the power elite tell them to do.

“Predicting” the possibility of Argentina defaulting once more is pure tactics and manipulative journalism, initiated by above mentioned institutions in order to create panic and cause economy turmoil.

Just for the records, the so famed soya commodity prices are soaring once again and will continue to do so, not to mention the rest of Argentina's agriculture commodities......

 Argentina expects higher crop output for 2012

Via Agriculture News

Argentina is on track to produce about 21.3 million metric tons of corn and 46.2 million of soybean during the 2011-12 seasons, based on surveys conducted by AGROCOM.

Argentina is the world's third-largest soybean exporter and ranks No.2 in corn exports.

Exports of grains, soybeans and related products are a significant source of government tax revenue and a major contributor to Argentina's trade surplus, which totaled $10.35 billion last year.

The Buenos Aires Cereals Exchange said that rains in recent weeks have helped the soy crop to recover from drought conditions in December and January that damaged corn fields.

Estimates for Argentina's 2011-12 crop production in million of metric tons. Sunseed area is measured in million hectares (HA). One hectare equals 2.47 acres.

                     Wheat      Soy         Corn         Sunseed

B.A. Cereals Exch    14.0       46.2        21.3         3.5

Ag Ministry          13.4       43.5-45.0   20.5-22.0    3.7

USDA                 14.5       48.0        22.0         3.2

Rosario Grain Exch   13.7       44.5        19.8         --

Argentina's historical production in millions of metric tons, according to the USDA:

Wheat      Soy       Corn         Sunseed

2010-11   15.0       49          22.5         3.6

2009-10    9.6       54.5        22.5         2.3

2008-09   10.1       32.0        15.0         2.9

2007-08   18.6       46.2        22.0         4.65

2006-07   16.3       48.8        22.5         --