You may be right about effects of PEV.
However, this happened just the other day. Industries such as sawmills, dairy, tannin, and textiles had experienced problems much earlier. The cause is obvious - leadership.
But as we speak, industries such as dairies, maize, wheat, cotton etc are reviving fast. Horticulture is particularly establishing! The other week, Miscrosoft founder, Bill Gates himself was in the region to see very young ambitious farmers.
Real estate is also growing.