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Improved market access and less export dumping by rich countries would help.
"But they need the others to create more domestic demand and be less export dependent".
"The corn market will have to grapple with what the wheat market has been grappling with: less export demand," Mr. Karlin said.
While American farmers are highly subsidized for production at home, they get less export assistance than farmers in many other countries and the United States does not impose high duties on agricultural imports.
If the Trump administration saps the current momentum toward a clean energy future by backing away from the Paris Climate Agreement, the U.S. stands to innovate less, export less, and ignore a burgeoning job market.
But these days, Castro can't even feed his own people without ration cards, much less export terrorism.
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Of the 30 members of the Organization for Economic Cooperation and Development, only 3 are less export-dependent -- Greece, the United States and Japan.
And after seeming to promise measures to open Japan to imports and to make it less export-oriented, he has backed away.
Similarly, in Germany, another big surplus country, there have been some early encouraging signs that growth is becoming less export-led and more driven by domestic demand.Underpinning this debate about imbalances is a renewed focus on the balance of payments.
The only firm piece of business known to be on the agenda is the country's Five-Year Plan, which could move China toward a less export-oriented economic model — with implications for issues like the United States trade deficit.
But to the extent that Chinese policymakers are forced to dip into their foreign currency war chest to support growth – and particularly if a less export-oriented growth strategy means that it stops racking up the vast trade surpluses that have helped it to accumulate these huge reserves – the ripples will be felt in markets around the world.
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