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Friday, August 14, 2009

Origin of WTO

More from The Sorrows of Empire, pp. (268-69):

"What began as a poorly conceived program of emergency measures for debtor countries early in the 1980s slowly matured into the hard orthodoxy of the 'Washington Consensus' in the 1990s. The U.S. government became determined to impose neoliberal economics on every country on earth. To do so, it unveiled its master plan, the 'Uruguay Round' of international trade negotiations (1968 to 1994), and its crown jewel, created on January 1, 1995, the World Trade Organization (WTO). Acting in compliance with a seemingly innocent effort to create a common set of trade rules for all and to bring agriculture under such rules for the first time, 'many developing countries discovered that in signing on to the WTO, they had,' as Bello [i.e., Walden Bello of the University of the Phillipines] put it, 'signed away their right to development.' "

The IMF (International Monetary Fund) was created during WWII. The deliberations of these institutions, along with the World Bank, are totally secret.


Patty McNally Doherty said...

Just keepin' the dream alive, brother. Snooze on...

Richard McNally said...

I knew I could count on you, Pat.