farmers subsidies it increases supply and thereby decreases price.
The ones that are hurt most are the Third World farmers who are NOT
getting subsidies and are getting LESS for their product.
-----------------------------------
Bono Attacks American Stance On Cotton Trade
Irish rocker Bono has hit out at America's stance on the cotton
trade during his visit to Mali, the latest stop on his African tour.
The singer visited cotton farmers in the north-western African
country and promised to fight their case at the new World Trade
Organization (WTO) summit. He says, "There are cotton farmers in
America who need to meet you. This is my biggest desire because I
think they will understand you better because I think American
cotton farmers would respect how you work the land so well with
little water. The reason you don't get more for your cotton is
because world trade talks, the people who are sitting at the table,
do not respect your situation. We will try to represent you in the
trade talks where they won't let you sit." Bono criticized America
for handing out $4.2 billion in subsidies to its cotton farmers in
2004-2005. He believes these payments depress the international
cotton market and ruin African economies.
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