Reason says :

Stanley Fischer, a former IMF official, rightly calls the situation "scandalous." Nicholas Stern, the World Bank's chief economist, says, "It is hypocrisy to encourage poor countries to open their markets while imposing protectionist measures that cater to powerful special interests."

The protesters who march under the banner of the Anti-Capitalist Convergence may not be inclined to hear this message when it comes from representatives of organizations they see as irredeemably evil. But perhaps they'll listen to Oxfam International, a group with impeccable "progressive" credentials that is "dedicated to fighting poverty and related injustice around the world."

Much has been written about Obama's victory and how his victory is representation for the third world finally getting something. "Representation" is fine, but it doesn't put food on the table. If the third world would do the math, it would ask for a different representation.

Obama says the North American Free Trade agreement is a bad one, and must be renegotiated. He has opposed the US-Colombia Free Trade Agreement on the bogus ground that Colombia is not protecting its trade union leaders from the drug mafia. In fact, such assassinations have fallen steadily from 205 in 2001 to just 25 last year. Obama is cynically twisting facts to woo the most protectionist US trade unions. This cannot but worry India, which may also be subjected to bogus slander and trade disadvantages.

Obama favours extensive subsidies for US farmers, hitting Third World exporters like India. This has been one of the issues on which the Doha Round of WTO is gridlocked. McCain could open the gridlock, Obama will strengthen it.

Obama also favours subsidies for converting maize to ethanol. The massive diversion of maize from food to ethanol has sent global food and fertiliser prices skyrocketing, hitting countries like India.

Obama should not raise subsidies for U.S. farmers. Obama should stop promoting this idea and he should promoting this now. Obama should clarify this before the G-20 summit in Washington. Time for some reason.

Update (last update 11/15/2008): updated text, date, link.