Global Trade Talks Break Down

[Nu Kua]

I've not yet seen this very important piece of news on at least the first two major news sources I've visited today, so here ya go.

Global trade talks collapse


Highlights:

High level talks to rescue a global trade pact have collapsed after the US, China and India failed to compromise on farm import rules, trade officials say.

Pascal Lamy, head of the World Trade Organisation (WTO), said the talks in Geneva, Switzerland, failed because members of the organisation "have simply not been able to bridge their differences"...
...Peter Mandelson, the European Union trade commissioner, said the talks collapse was "a very painful failure and a real setback for the global economy when we really needed some good news".

His comments were echoed by Jeremy Hobbs, director of Oxfam International, who said in a statement that the failure was "a major disappointment" coming "at a time
when food and fuel prices are high and the global economic outlook is uncertain".

"A decent trade deal could have given them [the poor] a chance to prevent worsening poverty," he said...

...Talks stalled over a "special safeguard mechanism" - a proposal to let developing countries raise farm tariffs in the face of a surge in imports or a collapse in prices.

Developing nations such as India say they needed the measure to protect millions of subsistence farmers from market uncertainty created by opening up their borders.

However, the US feared its own farmers would lose new markets just as it made painful cuts in its farm subsidies and accused China and India of insisting on allowances to raise farm tariffs above even their current levels.

That violates the spirit of the trade round, the US and other agricultural exporters argued, because it is supposed to help poorer countries develop their economies by boosting their exports of farm produce....

Please see also:

Failed talks: Assessing the fallout

[Nu Kua]

This story is circulating around the AP today as well.

U.S. food portions: Monuments of decadence?

...with soaring food prices sparking protests in many countries and more than 800 million people going hungry every day, U.S. food portions are under scrutiny. A lightening of the American plate could ease pressure on worldwide demand, but not everyone is hopeful change will be coming any time soon.

With a bombardment of food ads, many aimed at children, Americans are tempted with an array of food choices. One fast-food chain calls its massive burger a "monument to decadence" while the Wendy's chain calls its "Baconator" a "mountain of mouth-watering taste."

Portion sizes in the United States not only exceed those in less-developed countries, but also in the developed world. In fact, Americans have the highest per capita daily consumption in the world, eating 3,770 calories a day, more than a Canadian at 3,590 calories or an Indian at 2,440, according to data from the U.N. Food and Agricultural Organization...

Now combine this bit of news along with the collapse of the world trade talks, largely due to the US reluctance to bend. I think this will lead to increasing resentment people around the world are feeling for the US, not just in matters of food of course...

GREED KILLS

[olddragon]

Just a tad off topic but, suppose there was a world currency.
It would have to be based on something of value to the world, not gold, not oil or diamonds.
If it were based on food.
No tariffs or subsidies.
All food have a set value no mater what country it comes from.

No letting the land sit, to keep production down and prices inflated.
The government pays farmers to not plant crops, and that should stop if we are to sell to the world.
Sorry NK, my personnel rant...

[Nu Kua]

I thought I'd add a link to this thread


Setting global food prices in the United States


Food commodities trading seems to be starving everybody but the fat cats in the US who are keeping the prices higher in order that they may insure a profit when other stocks are more questionable. I mean, people can choose not to live in a house, or own a car, and still live. But people have to eat to live. Thus, food will always be a good thing to bet on.

[olddragon]

Correct, so why the need to pay farmers not to produce?
It guarantees higher prices by creating shortages.
In the long run it screws the farmer and the consumer.

[Nu Kua]

The entire world suffers from the way we manipulate the food supply, in order that a precious few get richer.
And now at the trade talks, the US (among others) thus far refuses to let go of a single ounce of bargaining chip.
It's wrong.

If they do not get something that works for all parties involved up and running soon, a wave of anger and despair will sweep the world and much of it directed at our country.
(already so actually- but expect it to get stronger)

Of course, what is also happening is that as the US becomes harder to deal with, other countries begin looking to each other for support and deal making. this will be a good thing in the long run, if you ask me.
It's time there were no more Superpowers, anyway. All that influence creates a hunger for power, all that muscle goes to the head, replacing brain and reason.

[serge_regulator]

Europe played a big part in the collapse of the talks by refusing to allow US beef and agriculture imports. The stumbling blocks were not all on the US side. Every country involved is out to save itself and not too concerned about "the other guy". Every one of them is guilty of finger-pointing when it came time to find someone to blame for the talks stopping.

We just severely cut our own farm subsidies and need to insure export markets exist or our own agriculture industry will fail. We wont last long depending on foreign food supplies. We dont want to do the same thing with food that we did with oil. We are in bad enough shape already.

[medicvet]

When fewer and fewer people get more and more and more and more people get less and less, then the revolution is breathing down the neck of time and history.

So it seems that we soon are coming to "let them eat cake" part deux.