Saturday :: Jun 19, 2004

WTO Rules Against US in Cotton Subsidies

by Mary

The US set up the WTO in order to facilitate the expansion of globalization of the economy throughout the world. For most cases, a globalized economy works in the favor of the largest US corporations as they compete against their competitors throughout the world in gaining market share. Yet, sometimes the rulings of the WTO can disrupt the laws and procedures of the US, with the most blatant being the attacks on our environmental laws.

But thankfully some rulings strike at the heart of our corporate welfare practices and today's ruling against the cotton subsidies could help unravel one of the more unfair pieces of corporate welfare passed in the past few years. The last agricultural bill was so larded with subsidies for the industrial farms that it was frankly anti-American as well as making a mockery of any concept of a free market in the US.

Nevertheless, our Republican controlled government is so in thrall to the corporate powers that be, expect to see an appeal.

"We believe U.S. farm programs were designed to be, and are, fully consistent with our W.T.O. obligations," Richard Mills, a spokesman for the United States trade representative, Robert B. Zoellick, said in a telephone interview.

"We will defend U.S. agricultural interests in every form we need to, and we have no intention of unilaterally disarming," he added, referring to the $19 billion in annual subsidies paid out to American farmers.

It seems that rules are made for thee, and not for me in our corporate controlled economy.

Mary :: 10:42 AM :: Comments (5) :: Digg It!