World Aid Organisation?

The trade ministers of the World's 'Least Developed Countries' are no doubt rubbing their hands in glee following the offers of cash that have been made on behalf of taxpayers in Europe and the US by our trade ministers. And so they should be. Now their wives can demonstrate their commitment to trade liberalisation right here in the bazaars of Hong Kong by purchasing essential items such as Cartier watches and Gucci handbags. 'Aid for trade' indeed.

Comments

[Simon Patkin]

These offers of cash are the worst possible solution. Not only are American and French taxpayers going to be subsidizing their own ineffecient agriculture sectors, they are now going to give money to subsidize inefficieny in the third world. Of course like you say, most of that money will be used to buy Gucci (and LV) handbags and Cartier (and Rolex) watches.

The aid is a total inversion and destruction of morality as it punishes the good and rewards the unproductive. Free trade is moral - it rewards the efficient, it rewards the productive, including the productive who can now have more choice as to what they can buy.