US agriculture is due for a rude awakening, according to experts, and it's about time to finally push the panic button.
The National Corn Growers Association, through its president, Kevin Skunes, compared prices back in 1993 to how they are today. Where machinery cost $74 per acre, input costs were $113 per acre and land costs were $93 per acre, they are now $117, $250, and $230 per acre, respectively, showing how high prices have climbed to unimaginable proportions.
Skunes shed light on the farmers' plight, saying that a 'significant farm crisis' might soon follow. He himself had felt the crunch, trying to stay positive. Skunes has enjoyed four years of affordable corn prices. However, the US Department of Agriculture has warned that corn prices-from a price of $3.36 per bu-could go up to $3.40 per bu.
Farmers have asked for help from the government through a farm bill that includes an insurance program for crop farmers, per Producer. The Trump administration has promised financial concessions for farmers; however, it remains to be seen whether it will be substantial enough to rescue them.
In contrast, the Chinese have been enjoying an economic surge led by the rise of their tech companies. Alibaba, Baidu, and Tencent are all still considered startups, but they have been leading the way in terms of creating a big wave of Chinese resurgence.
They've started the surge, and now, the companies who've followed their lead are making their way into the US. Some of them have found their way in Silicon Valley, while China is steadily preaching globalization. There are many Chinese citizens in the US right now, and not all of them immigrants-some of them are students or are working in the very tech startups that Chinese businessmen have created.
Roboterra is a prime example of China's presence in the Silicon Valley. It is also a product of the globalization that China is steadily preaching towards, according to Forbes. The founders are a product of US schools and Silicon Valley companies like Apple and Tesla.
With two contrasting sides, it appears that the dispute between the US and China has already produced a victor. It's easy to see, as China is still creating companies, while there are markets wrecked by the Trump administration's costly decision.