The real losers

Article Abstract:

The failure of World Trade Organization talks in Seattle affects five billion people living in developing economies, and threatens a trend toward globalization. The opponents of globalization claim that the process has started to be reversed, and there is a need to ensure that free trade continues to make progress. Protesters against free trade claim to be helping people from developing economies, but this is not the case. Meanwhile, European countries with to exclude agricultural proiducts, and the US wants to protest its textile industry and continue with anti-dumping legislation.

Conferences, meetings and seminars, Cover Story, Political aspects, World Trade Organization, Free trade

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Do you believe in fairies?

Article Abstract:

Promises of debt relief such as that made by Britain may assume that there is a chance that such debt could be repaid, yet many countries are too poor to do so. Compound interest is calculated on debts that are not repayable, giving an arbitrary figure. Much of the debt was originally granted to help rich countries sell to poorer countries. There is popular pressure for debt relief, yet there is also a risk that it could encourage borrowers to be less serious about obligations in the future.

Editorial, Economic aspects, External debt relief, Debt relief

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