kickAAS

Meanwhile in Switzerland . . .

An interesting story suggesting that behind the scenes the technocrats are beavering away in Switzerland to demolish the road block of technicalities that is preventing a conclusion to the oh so long-running international trade talks designed to boost the global economy by, among other things, removing subsidies to agricuture. If President Obama could pull this one off then his popularity ratings would get another kick-start. And that would be only a small part of the benefits to the world economy particulary developing countries currently priced out of the maket for primary products by excess Western subsidies.

 

 

Will Obama come to the rescue of the trade talks - or vice-versa?

Could 2011 be the year when Obama improves his popularity by rescuing the almost moribumd world trade talks to reduce agruculture subsidies? Details here.

Quote:

"The 2008 U.S. offer centered on a 70% reduction to the current $48.2 billion cap on overall trade-distorting subsidies (OTDS) and was deemed insufficient by almost all WTO members.

President Obama should top his predecessor's offer with a new proposed 80% reduction (to $9.64 billion) in OTDS, coupled with a commitment to eliminate all trade-distorting cotton subsidies."