The Globalization of Cotton
The Globalization of Cotton
This chapter discusses issues relating to the globalization of the cotton industry. Topics covered include the passage of the Agricultural Trade Development Act, or Public Law 480 (PL 480) in 1954, which provided for the export sale of surplus commodities for foreign currencies rather than dollars; the National Cotton Council’s establishment of the Cotton Council International (CCI) in 1956, tasked with making contractual agreements with the USDA-FAS and foreign governments for marketing development; establishment of the International Institute for Cotton (IIC); shifts in world cotton trade; trading blocs; cotton and the WTO; and the implementation of NAFTA and CAFTA.
Keywords: cotton industry, global market, world trade, Public Law 480, Cotton Council International, International Institute for Cotton, WTO, NAFTA, CAFTA
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