Economy

America, Japan & European Union, Assaulted At World Trade Meetings

December 16, 2005 ⋅  E-Mail Article ⋅  Print Article ⋅ Post a comment

In case you have not been paying attention to the World Trade talks, here is the most amazing revelation to come from the talks, “Developing nations in Africa and Asia want preferential deals put in place so they can sell more of their products in America, Europe, and Japan.” Are they serious?

Yes they are serious, and they are talking tough too. Representatives for the nations have stated that this is the global economy and if America, Europe, and Japan, want cheap labor from developing countries then they want better access to sell their cheap products in these same markets.

Without any thought to what their flooding of these markets with cheap products would do these countries continued to slam Washington and Tokyo at the World Trade talks in Hong Kong. The countries are demanding that they receive preferential treatment from Japan and America; they want two of the largest consuming nations in the world to allow their goods into the respective countries free of duties and quotas. Representatives for the countries stated, “after years of prescribing trade liberalization for others it is time they swallow their own medicine”.

Could developed countries survive a deluge of cheaply made foreign products? What can be done? Most believe the world cannot have a true global economy until we are all on the same living standard. However, is there enough work, energy, and consumable goods in the world for this to ever occur? There will always be poorer nations, and developing nations, could the whole world ever truly be industrious and prosperous?

If China opened its trade to these nations, even their low waged paying businesses model could not compete, it will become a race to the bottom, a ‘who can cut the throat the lowest and still survive’ game of business.

Developing countries also want the European Union to lower farm import tariffs so they can export more to these countries. However, Europe, America, and Japan want the ability to sell their goods in these developing markets with the same level of freedom. The developing nations have balked at this ideal. Is life fair, most would say not. All I can say to these countries is do what we all do, put your shoes and socks on and go to work, do the best you can and see what happens.

Who do they think they are demanding preferential treatment deals so they can sell more of their product in Japan, Europe, and America? They are owed as much as we are, nothing. Get in gear and get to work, that’s how you sell your product. America, Japan, and Europe earned their standard of living by hard work and sacrifice, not just by asking.

U.S. under attack at trade talks

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