DEPT. OF WAIT AND SEE, IT MIGHT EVEN HAPPEN: From the BBC: World Trade Organization members have agreed a revised draft deal that aims to revive stalled talks on freeing up trade between rich and poor nations.

Key WTO members accepted proposals to cut the subsidies wealthy countries give their farmers for exports.

The deal should reduce barriers to international trade and so, it is hoped, lift millions out of poverty. Brazil’s Foreign Minister, Celso Amorim, said the WTO agreement was good for trade and good for social justice.

“This is the beginning of the end for [farm] subsidies. Export subsidies will be eliminated first,” he said.

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Notice that nothing’s actually been cut yet, though.

Via Oxblog.