Economics & Business Archive

PEREIRA, Colombia — For the past three years, Felipe Ruiz has made his living as a landscape gardener in Connecticut. Recently, though, he was laid off, prompting his return to his hometown of Pereira, in the heart of Colombia’s coffee-growing region. “I didn’t expect to return home so soon,” said the 32-year-old Ruiz. “It was the last resort. My savings had dried up.” Every month, Ruiz had typically sent home $400 from his wages. Over the years, the money had been a key source of income for the family of five, who relied on the remittances to make ends meet […]

Last week’s Economist carried a feature on a recent wave of farmland purchases in poorer parts of the world. The buyers? Cash-rich emerging markets and Arab oil states looking to insure themselves against future food shortages. And if you think that’s just a reaction to last year’s stunning spike in prices, think again. The new trend speaks to the impact global warming will have on where food will be produced in abundance in coming decades. In terms of global grain production, which is what this investment frenzy is all about, the world is decidedly unflat. In fact, four major regions […]