It was not however the first time that the American people reacted that way. In 1995, at the time of the Mexican crisis, the US Congress refused to disburse funds to support the IMF’s USD 50 billion programme. The US administration found in the labyrinth of the budget a foreign exchange stabilisation fund that did not require Congressional approval to use on that occasion.
Agriculture is also benefitting directly from the rebounding economic strength of China and other emerging market economies, where rapid income growth is driving up food demand. The United States remains a net exporter of agricultural products, shipping more than 40 percent of its wheat, cotton, soybeans and rice crops to foreign countries in 2010.