Thursday, September 15, 2005


Trade, not aid

The competing economic philosophies of big players the United States and the European Union are coming into focus.

Leaving aside the widely differing levels of commitment to give 0.7% of GNP in development aid, The Australian reports:
"THE US has pledged to tear down all tariff barriers and scrap billions of dollars in subsidies if Europe does the same, in a decisive move that revives hopes of a global trade breakthrough in December."

But why is the US administration refusing to lead the way, and set an example to the rest of the world? Perhaps free trade has had its day - see PINR's Economic Brief: French Protectionism. It'll have to be aid instead.
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