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The subtleties of unintentional comedy

Wednesday, 28. January 2009, 16:57:20

From http://news.bbc.co.uk/1/hi/business/7856020.stm

The predictions came as Pascal Lamy, the director general of the World Trade Organization, urged countries not to react to the global economic crisis by resorting to protectionism.



Feeling a little insecure in your job Mr Lamy?

Millions, Billions & Trillionsmore number abuse

Comments

Tasj 29. January 2009, 07:01

Actually countries resorting to protectionism would be the best thing for Lamy's job - the aim of the WTO is to liberalise world trade, so if countries return to protectionism there would suddenly be a lot more work to do.

orinoco 29. January 2009, 08:26

Unless people realise that protectionism benefits more people than (the current form of) world trade. In which case the WTO becomes obsolete.

Tasj 29. January 2009, 09:19

The WTO won't just become obsolete overnight, having existed since 1948. GATT had the same aims as the WTO and survived other recessions. The WTO differs in that it actually has more powers to pursue those same aims, and states won't want to get rid of an organisation which can enforce fair trade. They may be binding themselves and limiting their own actions by remaining a member, but they make sure that all other members have to play by the same rules.

orinoco 29. January 2009, 16:52

I'd never use "WTO" & "fair trade" in the same sentence, unless I also used the words "go out of their way to destroy".

I think you mean "free trade", which is enforced on developing countries by the WTO & IMF in a way that has a nasty habit of keeping those in poverty in their place.

The aims of the WTO are not beneficial for millions of people, but they do benefit the WTO, which is why I find that Mr Lamy is resorting to protectionism of his organisation by advocating against protectionism.

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