WTO overcomes last minute hitch to reach its first global trade deal

Comments (27)
WhyMeLord wrote:

WTO = GLOBALIZATION = EQUALIZATION = SOCIALISM.
Do the math folks; truth is truth no matter what.

Dec 06, 2013 11:14pm EST  --  Report as abuse
torchwood wrote:

Just what we need, more free trade. Did we not learn our lesson from the last recession?

Well, I guess those in power didn’t since they just dropped the bill on the public.

Dec 06, 2013 11:25pm EST  --  Report as abuse
Hawaiian_Mana wrote:

“The Bali meeting was also noticeable for its lack of anti-WTO protests compared to the street battles when ministers met in Seattle 14 years ago” ….. which is why the WTO held their meetings in Bali.

Dec 07, 2013 2:42am EST  --  Report as abuse
beerpatzer wrote:

Gangster handshake… Not surprising really, given that the vast majority of capitalists are crooks…

Dec 07, 2013 3:27am EST  --  Report as abuse
StephanLarose wrote:

Yay! New ways for the rich to outsource to poor countries and rake it in while the rest of the world plunges into poverty while living under police states with no worker rights or secruity! Super! WTO = no democracy

Dec 07, 2013 5:14am EST  --  Report as abuse
Tiu wrote:

If it takes as long to implement as it did to negotiate, nothings going to change anytime soon.

Dec 07, 2013 7:33am EST  --  Report as abuse
Pete_Murphy wrote:

“The deal would … create more than 20 million jobs, mostly in developing countries.”

Nonsense. The only thing that creates jobs is per capita consumption. And the fact is that, as a consequence of the inverse relationship between population density and per capita consumption, the latter is in decline as the world’s population continues to grow rapidly. It’s impossible for people living in crowded conditions to utilize space-intensive products.

In the case of manufactured products, the effect of trade is simply to move jobs from one country to another. When two nations grossly disparate in per capita consumption combine their economies through free trade, the work of manufacturing is spread evenly across the combined labor force. But the disparity in per capita consumption remains. The result is a net flow of jobs toward the more densely populated (and underconsuming) nation.

Overpopulated nations like Japan, Korea, Germany, China and a host of others come to the trade table with badly bloated labor forces, hungry for work, and nothing to offer in return except markets stunted by overcrowding. Almost without exception, such nations are either heavily dependent on manufacturing for export in order to gainfully employ their excess labor and maintain a decent standard of living, or they exist in abject poverty like India, Bangladesh, Nigeria and a host of thers.

There is no solution to worsening global unemployment that doesn’t begin with halting population growth and a return to an optimum population that allows all people to enjoy a high standard of living and full employment.

Pete Murphy
Author, “Five Short Blasts”

Dec 07, 2013 7:47am EST  --  Report as abuse
Joebeducci wrote:

Lose weight? Read my article about Kettlebells: http://www.squidoo.com/what-is-a-kettlebell

Dec 07, 2013 8:23am EST  --  Report as abuse
RSchuckman wrote:

@Pete_Murphy: Thanks for providing an informed comment, unusual on Reuters. There will be jobs created, but 20 million is not so many on a planetary scale. These jobs will be bureaucratic, which is a mixed blessing. The jobs will go to the educated people in the developing world for whom there are no jobs now, unless they go back to the farm. How efficient will this bureaucracy be? Some more, some less, with some wild extremes. I fully appreciate the argument that this will be in some cases pure overhead. On the other hand, some of the efficiency measures will be partially successful. While I agree with your perspective and larger view about populations, I personally hope for a zero sum result. Assuming population growth cannot be halted within a hundred years, do you think the yeoman peasant farming culture of much of the world can benefit from the status quo? Something had to be done.
Hey, I’m just trying to be optimistic.

Dec 07, 2013 8:59am EST  --  Report as abuse
cosplaywigs wrote:

oh,it can mascot by http://www.2inc.net/Costumes-cid-216/Mascot-Costumes-cid-218

Dec 07, 2013 9:00am EST  --  Report as abuse
Charles1234 wrote:

@ Peter Murphy Halting population growth? Wow, 20th dictators are calling and want their idea back. If you want to contribute fruitful ideas don’t start by violating the most basic human right of creating a family. Humanity is not a spreadsheet that you can manipulate with formulas to achieve the desired result. Any jobs created are better than none. Meaningful changes on a global scale take centuries to occur, not after a generation of policy changes. Shifting jobs that require less education to other countries cause both pain and gain. Countries that lose are forced to retrain their workers for higher skilled and better paying jobs. On the whole, situations hopefully generally improve for all.

Dec 07, 2013 10:10am EST  --  Report as abuse
OnTheGround wrote:

Here is the most important comment in this article – “Beyond papering over a serious dispute on food security, precious little was progress was made at Bali,” said Simon Evenett, professor of international trade at the University of St Gallen in Switzerland … The WTO is basically a front for multi-national corporations, and has been given a does of oxygen from the tank before it collapses entirely … The euphemism “food security” refers to forcing the world to purchase and rely on GMO food products. GMO food products are now suspect in the skyrocketing increase in gluten intolerances and even increases in cancer. No agreement will be made on this subject, because it does not serve the basic food needs of the countries. … So the agreement is not much more than bally-hooing, to also cover up the amount of funds wasted by all the countries in sending delegates to yet-another conference that has produced little results since 1995 – which is alright with me.

Dec 07, 2013 11:03am EST  --  Report as abuse
Joebeduccii wrote:

How to lose weight? I know the perfect way: http://www.squidoo.com/what-is-a-kettlebell

Dec 07, 2013 11:10am EST  --  Report as abuse
tmc wrote:

@Pete_Murphy, that was a little better explanation of your theory than the usual plug for your book. I think I can see how your inverse theory works now. I’m not sold that it is not coincidence though, but could be easily swayed. Since you seem to be an expert of population I’m sure you are familiar with Hans Rosling’s recent theories too. He now states that the population will stabilize at 11-12 billion by 2050. We can sustain (feed) that population. How does it affect your theory? Are you preparing another book?

Dec 07, 2013 11:35am EST  --  Report as abuse
Donquixote2u wrote:

Huge celebrations because inefficient farmers continue to be subsidised?

Dec 07, 2013 1:58pm EST  --  Report as abuse
pbgd wrote:

The communist rogue states Cuba, Venezuela, Nicaragua, Bolivia tried to destroy the deal but failed. Still, it is good to know who your friends are, and who isn’t.

Dec 07, 2013 3:01pm EST  --  Report as abuse
UauS wrote:

So much fuss to once again prove an old adage that “money goes to money”…

Dec 07, 2013 6:11pm EST  --  Report as abuse
Mott wrote:

“.. allows developing countries to skirt the normal rules on farm subsidies if they are trying to feed the poor ..”

Other-way-round – it actually requires more stringent reporting in doing so.

“.. that could add $1 trillion to the global economy ..”

Ever wonder where this $1T comes from and where much of goes to?

This WTO facilitated free-trade leads to loss of competitiveness and jobs at local level.

Nice try on the positive spin though.

Dec 07, 2013 9:24pm EST  --  Report as abuse
DemandSider wrote:

A study by the Washington, D.C.-based Peterson Institute of International Economics estimated…(blah, blah, blah…)”

Peter G. Peterson worked for Nixon and for a veritable “Who’s who’ of corporate outsourcers to China’s state owned manufacturing complex. This genius has been a hawk on American debt, seemingly oblivious that his former boss, Nixon, began the petrodollar debt system in 1973. Under this system, as long as more oil is discovered, dollars can be spent without causing inflation. In addition, oil importers MUST have dollars to buy oil. Thirty seven years in a row of buying more than we sell has been the result.

Can this man really be this dense? Kissinger, the real architect of this system, wasn’t. He went from commie killer to “Kissinger and Associates” free traitor with The PRC soon after.

Dec 08, 2013 12:04am EST  --  Report as abuse
Talleyrand02 wrote:

“…gives improved terms of trade to the poorest countries…”

Code for allowing sweatshops in Bangladesh to be used to deindustrialize the west and dismantle all social gains since World War 2. In other words: onward NeoFeudalism.

Dec 08, 2013 3:01am EST  --  Report as abuse
JamesChirico wrote:

Building the standard of living in countries using capitalistic mercantilism harms the developed nations manufacturing sectors, does not raise quickly LDCC nations. Far better is to have central banks print money to be used for workers to buy within their countries, to quickly raise living standards in the least developed nations.

“The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government’s greatest creative opportunity. By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts and exchanges. The financing of all public enterprises, the maintenance of stable government and ordered progress, and the conduct of the Treasury will become matters of practical administration. The people can and will be furnished with a currency as safe as their own government. Money will cease to be the master and become the servant of humanity. Democracy will rise superior to the money power.”

― Abraham Lincoln

Dec 08, 2013 6:53am EST  --  Report as abuse

The WTO trade deals can’t create jobs. Not one.
Jobs and careers, from assembly line workers to those who are IT specialists, engineers and stock brokers, are no longer secure — in fact, fewer and fewer people are needed as robotics using first phase Artificial Intelligence replace them, soon by the additional hundreds of thousands and before too long by several millions upon millions of we the people. And that’s using today’s artificial intelligence which is becoming smarter and smarter faster than a brilliant child can even hope to learn. Heck, look at the USA military and how fewer and fewer people are needed as robotics take over the most sophisticated killing jobs. Soon not even armed attack drones will need a handler. Drones will be manufactured, using robotics of course, and released into the skies and then programming themselves as to who the enemy are. Soon. Very soon. And not even the 1% that run America will escape them.
The only jobs that are safe are crop picking and other labor intense agriculture type jobs that a performed by people they call Wet Backs — illegal Hispanics doing jobs American citizens won’t do because they seem so slave-like and which are jobs that even modern AI robotics will be to high and mighty to perform.

Dec 08, 2013 12:44pm EST  --  Report as abuse

The WTO trade deals can’t create jobs. Not one.
Jobs and careers, from assembly line workers to those who are IT specialists, engineers and stock brokers, are no longer secure — in fact, fewer and fewer people are needed as robotics using first phase Artificial Intelligence replace them, soon by the additional hundreds of thousands and before too long by several millions upon millions of we the people. And that’s using today’s artificial intelligence which is becoming smarter and smarter faster than a brilliant child can even hope to learn. Heck, look at the USA military and how fewer and fewer people are needed as robotics take over the most sophisticated killing jobs. Soon not even armed attack drones will need a handler. Drones will be manufactured, using robotics of course, and released into the skies and then programming themselves as to who the enemy are. Soon. Very soon. And not even the 1% that run America will escape them.
The only jobs that are safe are crop picking and other labor intense agriculture type jobs that a performed by people they call Wet Backs — illegal Hispanics doing jobs American citizens won’t do because they seem so slave-like and which are jobs that even modern AI robotics will be to high and mighty to perform.

Dec 08, 2013 12:44pm EST  --  Report as abuse

The WTO trade deals can’t create jobs. Not one.
Jobs and careers, from assembly line workers to those who are IT specialists, engineers and stock brokers, are no longer secure — in fact, fewer and fewer people are needed as robotics using first phase Artificial Intelligence replace them, soon by the additional hundreds of thousands and before too long by several millions upon millions of we the people. And that’s using today’s artificial intelligence which is becoming smarter and smarter faster than a brilliant child can even hope to learn. Heck, look at the USA military and how fewer and fewer people are needed as robotics take over the most sophisticated killing jobs. Soon not even armed attack drones will need a handler. Drones will be manufactured, using robotics of course, and released into the skies and then programming themselves as to who the enemy are. Soon. Very soon. And not even the 1% that run America will escape them.
The only jobs that are safe are crop picking and other labor intense agriculture type jobs that a performed by people they call Wet Backs — illegal Hispanics doing jobs American citizens won’t do because they seem so slave-like and which are jobs that even modern AI robotics will be to high and mighty to perform.

Dec 08, 2013 12:44pm EST  --  Report as abuse
Pangaea7 wrote:

Good, Now that the 160 Ministers can agree on something MAYBE they would be Smart and BOLD enough to plan a “WORLDS FAIR” I’ve been waiting for a Global type “WORLDS FAIR” in my own lifetime… it would be wonderful for the worlds people and some businesses to get together and celebrate the FUTUIRE using a Worlds Fair instead of this constant nationalistic posturing we are seeing. Please SHOW me something Positive !!!!!!!!

Dec 08, 2013 1:49pm EST  --  Report as abuse
tmc wrote:

It looks to me like the global corporations of the world have succeeded in gaining controlling interest in the WTO. It took well over a decade. First pressuring to ensure nothing was actually done to harm them, and then to gain enough influence to ensure that the it will in fact favor them. The global business community show how good it is at its job. What a great and wonderful version of capitalism we have created.

Dec 08, 2013 2:28pm EST  --  Report as abuse
EdMartin wrote:

‘food security’ is a politicians’ mob-raising war cry

thus:

‘there’s a foreigner out there – and i can protect you from them – i’m a politico – you look after me with your vote and i can give you repression, exploitation and hopeless poverty – honest!’

Dec 09, 2013 6:06pm EST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.