Prestowitz calls for “disarmament”

Maybe the sky is falling. What a plea­sure to be able to agree with Clyde Prestowitz … for once. The self described trade ‘hawk’ of the Rea­gan admin­is­tra­tion recommends”>http://yaleglobal.yale.edu/display.article?id=2472”>recommends that the US and EU uni­lat­er­al­ly dis­man­tle their agri­cul­tur­al export and pro­duc­tion sub­si­dies in order to resus­ci­tate the cred­i­bil­i­ty of the WTO trad­ing sys­tem.

” Such a move is essen­tial at this moment not only as a mat­ter of pro­vid­ing a bad­ly need­ed boost to devel­op­ing coun­tries, but also because the fail­ure of talks last week (Sep­tem­ber 14) pos­es a seri­ous threat to the con­tin­ued via­bil­i­ty of the WTO and the main hope of gen­er­at­ing the eco­nom­ic growth nec­es­sary to lift devel­op­ing coun­tries out of pover­ty.  With­out imme­di­ate and dra­mat­ic action, the trend toward bilat­er­al and region­al trade agree­ments is like­ly to accel­er­ate. ”

He’s absolute­ly on the mark.

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