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Time for Some Rule Changes
Forbes.com: Poorest nations form new bloc at WTO talks:
"CANCUN, Mexico, (Reuters) - A group of 90 African, Asian and other poor nations formed a bloc on Friday to demand wide concessions on farm reform, adding pressure on rich nations at global trade talks.
This is a story worth following. In short, what's at stake is the entire notion of free trade. Will it fulfill its idealogical promise of opening doors that swing in both directions or will the the developing nations find themselves on teh outside looking in?
I know where the smart money will be.
We are the U.S. and we will not do anything that will harm our intersts in the least bit whatsoever. These countries who have worked the system to their advantage expect to get a concession out of America. It won't happen. Once there is any threat that an international organization works for anyone's advantage but the United States that organization will be abandoned and declared irrelavant.
Looking at the U.S. economy you see at least two glaring roadblocks to "globalized free trade" at least in the way it is being promoted. One is the issue of sovereignty, the other is the very mechanisms by which the U.S. regulates its own economy, farm subsidies and miltary contracts.
It should be beyond debate that the United States government has a very active role in the nation's economy. Think bankruptcy courts and federal deposit insurance for banks. In fact our presidential nominees go to great lengths to promote their economic policies. I laugh when anybody hurls the accusations of "wealth redistribution" at anyone. For indeed that is the very process that we undergo on a daily basis. We spend massive amounts to keep agriculture solvent and prices low. We rightly think that allowing food prices to fluctuate wildly would be detrimental to a stable economy. We also pour billions into military spending that serves two "beneficial" purposes. First, it employs thousands of people in what would be called a middle class status either directly or through contractors. Second, it provides a constant and growing market for technology and hardware.
Without this foundation, the nature of the U.S. economy will undergo radical changes, and I doubt most people would welcome those changes.
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