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Posted by Ross Korves
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Friday, 18 April 2008 |
 Last week the Finance Ministers of the G7 countries, the U.S., Canada, Japan, U.K., Germany, France and Italy, met in Washington, DC in conjunction with meetings of the World Bank and the International Monetary Fund. While the ongoing global credit crisis centered in the U.S. garnered much of the attention, it was upstaged at times by growing concerns in 30-40 developing countries over the increased cost of food.
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News 
Just about the time you think you can make both ends meet, somebody moves the ends, says a joke from Reader’s Digest.
On April 7 President Bush sent to Congress a letter with legislation to implement the U.S.-Colombia Free Trade Agreement (FTA). House Democratic leaders have responded by suspending action indefinitely through a 224-195 vote to change House rules. The unique situation in U.S-Colombia trade relations warrants another look at the potential for the agreement.
When the latest edition of the Old Farmer’s Almanac came out last fall, it predicted drier-than-normal weather for the corn-growing states in 2008. I’ve never placed much stock in these super-long-range forecasts. The meteorologists often can’t even tell me if it will be sunny on Saturday, let alone what the rainfall will be like in July and August.
The March 31 release of a WTO dispute panel report on the ongoing disagreement between the U.S. and the EU on whether the EU has met its obligations under the WTO agreement when not importing U.S. beef produced with growth promoting hormones shows both the strengths and the weaknesses of the WTO dispute resolution process. This report will not influence the basic issues and will result in appeals and new cases.
