Globalization is a fail. It serves the powers that shouldn’t be. It does not serve the people. In any nation. Anywhere on the globe.
India on Thursday shrugged off mounting pressure to compromise in a global impasse over food security that has cast the future of the World Trade Organization into doubt.Skewing prices? The WTO does exactly that! Skews prices. Which is why the WTO is demanding that India restrict grain for the poor. The poor in India can’t pay for basic grains? The WTO says to bad, you should all just starve and die.
New Delhi's insistence that it be allowed to stockpile and subsidise grain for its millions of hungry poor has emerged as a major stumbling block at a WTO conference of trade ministers in Bali.
The WTO has warned that failure to reach a compromise on that and other issues could be a death blow to the body's 12-year-old effort to remove trade barriers, which is at a stalemate.
"This is a fundamental issue. We will never compromise," Indian Commerce and Industry Minister Anand Sharma told reporters at the conference venue on the Indonesian resort island.
Washington and some other trading nations are said to feel the Indian position violates WTO limits on subsidies and fear stockpiled grain could end up on global markets, skewing prices.
Trade ministers have issued stark warnings that a failure to close gaps in Bali would fatally wound the WTO's waning world influence.
Good riddance to the WTO. Good riddance to the global tyranny.