Financial Daily from THE HINDU group of publications
Monday, May 03, 2004
Financial Daily from THE HINDU group of publications Monday, May 03, 2004 |
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Opinion
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Letters Agricultural subsidies
The dispute-settling mechanism of WTO was successfully invoked by Brazil on behalf of poorer nations like Burkino Faso in the matter of the unconscionable government subsidies to cotton growers in rich countries like the US (Your news report). Why the US should grow 16 billion bales of cotton a year and export quite a lot of them, smothering competition from poorer nations, at the expense of its own tax-payers- who subsidise nearly two third of them- is indeed mystifying in economic terms. The US and the EU countries, ardent supporters of the creed of free trade and free enterprise, want it to work a' la carte only in those sectors where they stand to gain. What the US will do with the WTO ruling in an election year is anybody's guess. Hopefully wiser counsels will prevail sooner than later. Kangayam R. Rangaswamy Madison (US)
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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