Indonesia is one of the least exposed economies in the region, with a vast domestic market and a relatively small share of exports to gross domestic product, so it is insulated from volatility in the global economy,
World Bank studies suggest that US subsidies alone reduce West Africa's annual revenue from cotton exports by $250 [million] a year .
King Cotton, phrase frequently used by Southern politicians and authors prior to the American Civil War, indicating the economic and political importance of cotton production. After the invention of the cotton gin (1793), cotton surpassed tobacco as the dominant cash crop in the agricultural economy of the South, soon comprising more than half the total U.S. exports.
One of the many economic differences between developed and developing countries is that developed countries subsidize farmers while developing countries tax farmers. . . . World Bank studies suggest that US subsidies alone reduce West Africa’s annual revenue from cotton exports by $250 [million] a year.
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