{"id":8430,"date":"2022-07-24T14:43:13","date_gmt":"2022-07-24T14:43:13","guid":{"rendered":"http:\/\/lonecandle.com\/?p=8430"},"modified":"2022-07-24T14:43:13","modified_gmt":"2022-07-24T14:43:13","slug":"sri-lankas-protests-are-just-the-beginning-of-global-instability","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=8430","title":{"rendered":"Sri Lanka\u2019s protests are just the beginning of global instability"},"content":{"rendered":"\n

\n\n“Sri Lanka\u2019s economy is in free fall. The country doesn\u2019t have enough money to buy essentials: food, medicine, and especially fuel. Buses can\u2019t run, schools can\u2019t open<\/a>. The economic crisis was years in the making because of mismanagement<\/a>, but terror attacks<\/a> in 2019, and later the Covid-19 pandemic, which shriveled Sri Lanka\u2019s tourist economy, pushed it to the brink.<\/p>\n\n\n\n

But the domestic political turmoil unfolding in Sri Lanka also links back to the instability across the globe, including the war in Ukraine and all of its consequences.”<\/p>\n\n\n\n

…<\/p>\n\n\n\n

“I tend to believe in markets, but I will say that markets for basic necessities like food, these are not markets you want to operate according to cold economic logic. The market for food is not a market where you want to wind up at the end of the sale with no available supply. We can\u2019t have that because we need to have buffers in the system precisely because of events like the ones we\u2019ve seen. And so if that\u2019s physical grain reserves, [or] if it\u2019s governments willing to use what they call virtual reserves, which are basically governments, in a coordinated fashion, intervening in markets to short these futures contracts to drive prices back down.<\/p>\n\n\n\n

There are things that can be done. It\u2019s just going to take an investment of resources and, I think, broader awareness of the enlightened self-interest that it does not make the United States any safer and more prosperous to exist in the world where many of our trading partners and many of our strategic partners around the world are facing instability because they can\u2019t feed their populations.”<\/p>\n\n\n\n

https:\/\/www.vox.com\/23211533\/sri-lanka-protests-food-fuel-ukraine-war<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

“Sri Lanka\u2019s economy is in free fall. The country doesn\u2019t have enough money to buy essentials: food, medicine, and especially fuel. Buses can\u2019t run, schools can\u2019t open. The economic crisis was years in the making because of mismanagement, but terror attacks in 2019, and later the Covid-19 pandemic, which shriveled Sri Lanka\u2019s tourist economy, pushed it to the brink.<\/p>\n

But the domestic political turmoil unfolding in Sri Lanka also links back to the instability across the globe, including the war in Ukraine and all of its consequences.”<\/p>\n

…<\/p>\n

“I tend to believe in markets, but I will say that markets for basic necessities like food, these are not markets you want to operate according to cold economic logic. The market for food is not a market where you want to wind up at the end of the sale with no available supply. We can\u2019t have that because we need to have buffers in the system precisely because of events like the ones we\u2019ve seen. And so if that\u2019s physical grain reserves, [or] if it\u2019s governments willing to use what they call virtual reserves, which are basically governments, in a coordinated fashion, intervening in markets to short these futures contracts to drive prices back down.<\/p>\n

There are things that can be done. It\u2019s just going to take an investment of resources and, I think, broader awareness of the enlightened self-interest that it does not make the United States any safer and more prosperous to exist in the world where many of our trading partners and many of our strategic partners around the world are facing instability because they can\u2019t feed their populations.”<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[217,725,1467,628,1652],"class_list":["post-8430","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-economics","tag-food","tag-markets","tag-shortage","tag-sri-lanka"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/8430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8430"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/8430\/revisions"}],"predecessor-version":[{"id":8431,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/8430\/revisions\/8431"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}