Rich countries promised 4 1/2 years ago to make the global trade system fairer for poor countries, changing rules to help them reap the rewards of international commerce. Now the negotiations launched then are reaching a do-or-die stage, but prospects are bleak for a deal that would bestow much benefit on the poor. . . . Farm trade, though by no means the only issue, is the chief focus of the Doha round of trade talks, named for the Qatari capital, where they were launched in 2001. That is because agricultural goods, the mainstay of many poor countries' economies, face steep tariffs and other obstacles in the markets of many rich countries. Another major grievance of developing nations is the billions of dollars in subsidies that farmers in rich countries receive from their governments. The payments encourage excess production of crops, which leads to gluts on world markets, depressing prices. (Washington Post, Friday)
Western hypocrisy — again.
FEE Timely Classic
Ending Farm Subsidies Wouldn't Help the Third World? It Just Ain't So! by E. C. Pasour, Jr.