jul 31st, 2008
as usual, india is blamed for the failure of the WTO talks. but this time,
china seems to share some of the blame, at least as per the NYTimes,
which ran a story yesterday blaming india fully, but updated it today
to blame china's 'abrupt u-turn' along with usual suspect india.
i wonder if anybody has insights into what happened and how this
affects india's trading future (in terns of access to rich country
markets) and food security.
india does have common interests with the US in reducing trade
barriers; only the US wants to reduce barriers in manufactured goods
and india in agricultural goods. china wants to also reduce tariffs in
manufactured goods, but i think they are getting worried about food
security too.
of course, the US Farm Bill 2007 continues the huge subsidies in
effect for cotton, wheat, soy, rice and corn (of the order of $20
billion a year). this in effect leads to 'dumping' in world markets.
http://www.nytimes.com/2008/07/31/business/worldbusiness/31trade.html
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