Word: riche
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...grief. The case for trade is simply put: if each economy produces what it does best and then trades with other economies for their goods and services, everyone's wealth goes up. Trade is about specialization. But the biggest threat to expanding trade today is that the rich industrial nations continue to block the food and fabric exports that are the natural specialty of poorer developing countries...
...needs to be a two-way street. However much a developing country orients its economy to the outside world, it needs others to buy its goods. At the Uruguay Round of trade talks, which concluded in 1993, the developing world was promised much greater access for its products to rich markets. But the reality has been disappointing...
...islands' crops of comparative advantage. European governments, with the French at the fore, have always sought protection for their farmers as a way of preserving the rural environment and village life. Nick Stern, chief economist of the World Bank, recently estimated that total agricultural subsidies in the rich world were worth $300 billion a year--about equal to all the economies in sub-Saharan Africa...
...textile industry, ably defended over the years by Senators Jesse Helms and Ernest Hollings of the Carolinas, has long been one of the most aggressive lobbies for tariffs and quotas. Such protection hurts more people than it helps. Stern calls agricultural subsidies "a rip-off" for citizens of rich countries, who have to pay higher prices and taxes than they would in a world where goods were traded freely. But those hurt by free trade--farmers and textile workers who might have to shift jobs--are always easier for politicians to identify and support than the much larger number...
...growth as much as al-Qaeda. After the two massive U.S. attacks on Fallujah in 2004, a government commission was set up to assess damage and calculate compensation for residents and business owners. The commission, however, fixated on some issues and dropped the ball on others, making some residents rich while leaving others empty-handed and disgruntled...