Scrap farming subsidies, say business leaders.A GROUP of senior business executives has come out strongly in favour of abolishing agricultural subsidies agricultural subsidies, financial assistance to farmers through government-sponsored price-support programs. Beginning in the 1930s most industrialized countries developed agricultural price-support policies to reduce the volatility of prices for farm products and to in rich nations. The Caux Round Table (CRT (1) (C RunTime) See runtime library. (2) (Cathode Ray Tube) A vacuum tube used as a display screen in a computer monitor or TV. The viewing end of the tube is coated with phosphors, which emit light when struck by electrons. ) group welcomes the recent decision 'to seek an end to national subsidization sub·si·dize tr.v. sub·si·dized, sub·si·diz·ing, sub·si·diz·es 1. To assist or support with a subsidy. 2. To secure the assistance of by granting a subsidy. of agricultural production', made at the Doha Round of negotiations on trade liberalization lib·er·al·ize v. lib·er·al·ized, lib·er·al·iz·ing, lib·er·al·iz·es v.tr. To make liberal or more liberal: "Our standards of private conduct have been greatly liberalized . . . . The CRT says this decision lives up to the fifth of its Principles for Business, which calls for trade liberalization 'and to relax those domestic measures that unreasonably hinder hin·der 1 v. hin·dered, hin·der·ing, hin·ders v.tr. 1. To be or get in the way of. 2. To obstruct or delay the progress of. v.intr. global commerce'. The world trade negotiators 'have moved the global system of commerce closer to a noble ethical ideal of providing opportunities and benefits for all', comments the CRT. Domestic protection 'eliminates market opportunities for farmers in poor countries', says the CRT. 'Only through agricultural production, and the export of such production to waiting consumers, can those farmers and those poor nations earn income sufficient to fund a course of sustained economic growth, reducing poverty and improving lives.' |
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