Who needs WMD when you've got lawyers on your side?
The developing world lost the farm at WTO. I don't always agree with Devinder Sharma's views, but his analysis here seems to be fairly reasonable, especially since he seems to have outlined some of this earlier.
"...Interestingly, developing countries are being asked to cut domestic support for agriculture at a time when a majority of the 3 billion farmers in the majority world earn less than half of what a European or American cow gets as subsidy ï¿½ US $ 3 a day. It is also widely accepted that developing countries do not have the means to provide direct farm support to farmers. It is therefore not only amazing but shocking beyond belief to see the way the developing country negotiators goofed up."
I hate to rant, but this is just *so* wrong. On the insanity scale, this is only matched by the cotton subsidies. Fortunately, there's at least some hope for sanity to prevail in this bizarro world, after Brazil successfully sued the US. However, whether the WTO's cotton ruling will result in any meaningful policy reform in the US after the latest self-goal scored by the developing world remains to be seen.
PS: Did the Chinese just sleep through all of this or what?