MURFREESBORO, Tenn. —
One of Middle Tennessee State
University’s newest researchers and institute directors delivered a
different perspective — the political economy and economic impact of tariffs on
ginseng growers — for those attending the Tennessee
Ginseng Growers Fall Meeting Friday (Aug. 24) in the Science Building.
Daniel Smith,
director of the Political Economy Research Institute
at MTSU and associate professor in the Department
of Economics and Finance, brought a presentation “analyzing the substantial
costs of tariffs to Tennessee ginseng growers and provided a critique of the
economic and political justifications used for tariffs” at the conference held
in the Science Building.
Ginseng growers, buyers and sellers and others came from all
parts of the state for the conference, where they learned about history, export
market analysis, preparation for the fall planting season, an added-value
ginseng testing certificate and more.
“The wide consensus among
economists is that steel and aluminum tariffs are likely to destroy more
American jobs, especially in steel- and aluminum-using industries, such as
automobile industries, than they will preserve in steel and aluminum
industries,” Smith said.
“Trade deficits do not provide an
economic justification for tariffs since trade deficits simply reflect the high
level of foreign investment in the United States, helping to drive economic
prosperity and job-creation,” he added.
MTSU alumnus and Murfreesboro
resident Tom White (Classes of 1984
and ’86), who is semi-retired after a 30-year career as an environmental
chemist, took in his second meeting since May because he owns a 7-acre farm
near Center Hill Lake in DeKalb County and his family has 50 acres in Monroe
County in East Tennessee.
“I know it’s suitable for
ginseng,” said White, referring to the Monroe County tract. “I have an interest
to know about harvesting ginseng for income on land that’s typically not
agricultural because of where it’s sloped and wooded. It may be a good activity
for me in retirement.”
White’s father, the late Ralph L. White, served as chair in MTSU Educational Leadership for
nearly 30 years.
State Rep. Jeremy Faison of Cosby, Tennessee, said he would “like to see us
become the greatest state in America (with regard to ginseng). Those people in
Tennessee are doing it right.”
Ginseng is a very popular
over-the-counter supplement that is used to boost the immune system. Currently,
the annual world market for ginseng is just over $2 billion, with a starting
price of $400 per pound for mature ginseng roots.
Faison added he’s “excited to see
what MTSU is doing through the leadership of Dr. (Sidney A.) McPhee and Dr.
Gao. They’re going to make Tennessee be the go-to state for exporting, and I’m
excited to help in any way I can.”
MTSU alumnus Paul Martin Jr. discussed the university’s trip to China in May,
where it was announced Guangxi Botanical Garden of Medicinal Plants and MTSU
agreed to create a joint ginseng institute to study, develop and promote
Tennessee-grown herbal products for sale in Asia and other emerging markets.
Other speakers included Andrea Bishop, ginseng coordinator with
the Tennessee Department of Environment and Conservation, providing the history
of Tennessee’s ginseng program; Nate Phillips, associate professor,
MTSU School of Agriculture, discussing the fall planting season; and Mengliang Zhang, chemistry assistant
professor, discussing an added-value ginseng testing certificate.
Details for the next meeting will be announced on the new
webpage, http://www.mtsu.edu/tcbmr/ginseng.php,
said Iris Gao, associate professor
in the School of Agriculture and
researcher with the Tennessee Center for Botanical Medicine
Research. Gao organized the meeting.
For more information about ginseng, call 615-898-2430.
No comments:
Post a Comment