[Marxism] Sugar and Overproduction
rrubinelli at earthlink.net
Sun Aug 28 09:29:22 MDT 2005
Trying to catch up on my old Financial Times, I came across a really
good analysis in the 8/15 issue on sugar production in the Caribbean.
Specifically-- about the impact the EU's decision to reduce by some 40%
the subsidized price the EU pays for sugar from the Caribbean, former
British colony, producers.
The EU decision was in response to a WTO ruling that EU price guarantees
are in violation of WTO fair trade standards. The WTO ruling came in
response to a case filed by Australia, Thailand, and Brazil, challenging
the EU subsidies. (No Fred, Walter, I am not bringing this up just to
show how Lula has "betrayed" the people).
The article examines the costs of production of sugar in Jamaica,
Guyana, Trinidad and the negative impact the price reduction will have
on the social support system built on the subsidized price.
Unfortunately, electronic versions of FT articles are available to
FT.com subscribers so I can't reproduce it here.
If anyone on the list is a subscriber, I think it would be of benefit to
us all to reproduce the article for detailed examination.
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