Diplomats make trade deal to cut red tape, poverty

[Omaha Steve]

Source: AP-EXCITE

GENEVA (AP) — The World Trade Organization pulled off a major deal Thursday that could boost global commerce by $1 trillion annually after years of negotiation.

Diplomats said the deal is the first multilateral trade agreement in the organization's 20-year history. It will take effect after all 160 member countries ratify it, which is expected sometime next year.

A U.S.-India deal this month over food stockpiling by India cleared the way for the agreement.

"The WTO has taken a critical step forward by breaking the impasse that has prevailed since July," U.S. Trade Representative Michael Froman said.

FULL story at link.


Read more: http://apnews.excite.com/article/20141127/eu--wto-global_trade_deal-3727bf8a94.html

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Jobs leaving the USA again?

[JDPriestly]

1. K&R.

Every step toward more world trade needs to be matched by a positive, pro-active step to increase jobs and improve working conditions and wages in the US.

The price for more world trade should be better working conditions and better wages in the US.

Otherwise, world trade just translates into increased misery for the middle class and poor in countries like the US.

[pampango]

2. "positive, pro-active step to increase jobs and improve working conditions and wages in the US

Agreed. And we need to do that whether this deal goes through or not. Things will not get better until we do just that.

[Hoppy]

3. Somehow, deep down, regardless of the topic heading,

you know this agreement ain't gonna benefit the poor or middle class.

[pampango]

4. "Most of the income gains in the past 25 years have gone to the bottom 70% and

the top 5% on the global income scale. Those who have suffered have been the bottom 5% and the 80-90 percentile in income."



There should be a way to reign in the top 5% with their exponential increase in income and redistribute it to the bottom 5% and the 80-90% people. (The folks in the 10%-70% range have had even greater percentage increases in their income than the top 5% has had.) We should be able to do this without jeopardizing the progress made by the lowest 2/3 of the world's population.