WTO Thoughts

There is a severe problem that was not resolved during the G8 summit in Gleneagles this past week. Yes, the G8 is doubling aid to Africa, and debt is being cancelled for however many of the poorest nations. That is all great news and proves that the most powerful men in the world are thinking about something other than their own economies and their personal bank accounts. However, the third item on the list to be discussed in regards to aiding Africa was the reduction of subsidies and trade barriers in wealthy countries around the world. Of course, nothing was done.

I remember when Bush said that he would lower subsidies if the EU did. Now, all we need is the French to say that they will lower subsidies if Bush does, and no one will have to act. Supported agri-business will continue to push world prices artificially down, and the developing world will continue to be unable to sell their products.

Trade restrictions, as they are today, help the rich get richer and the poor grow poorer. Shouldn't trade regs work the other way? Shouldn't the world be on the other end of the spectrum... somehow supporting those who are unable to live in a market that can support its own producers? As always, I am not alright with how the world has been organized. I am not OK with the system. But what is there to do?

I guess I will just have to wait for Hong Kong this December to see if Europe, the US, Japan, etc. will agree to a more "free" system of trade. Free trade is better than the messed up system we have now, even if it is still not ultimately just and fair. I will just be hoping for a push in the right direction (well, left direction, I suppose). Anyone else excited about the WTO in Hong Kong??