India, the world's second-largest exporter of cotton, has banned all exports of the fiber, effective immediately, BBC reports.
This is a reminder that democracy, economic freedom, and the rule of law are all different things — especially since the ban apparently means even existing contracts to export cotton will be abrogated.
The largest exporter of cotton is China. It'd be interesting to see how a President Romney would handle this situation in view of his threats to impose punitive trade sanctions on China.
In the meantime, get ready for more clothes made out of hemp, polyester, wool, or Egyptian cotton.