America was found guilty in paying their cotton farmers illegal subsidies up towards $3 billion dollars, to help against Brazil's production. WTO issued the remarks opening the door for Brazil to receive new economic freedom and power. This all goes along to helping Brazil continue its agricultural might.
Phil Bloomer of Oxfam International, called it a, "a triumph for developing countries, and a warning for rich countries whose unfair systems are creating misery and poverty for millions. This is a signal that the modus operandi of the rich and powerful in the WTO getting away with anything they like will no longer be tolerated."
Many thought that the illegal subsidies help create the plunging poverty in the region. The overproduction kept the prices down, forcing Brazilian farmers to work extra hard just to make ends meet.
U.S. plans to appeal to the WTO on the matter.
All information found at BBC
Friday, October 19, 2007
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