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WTO
Why Africa is treading water
Trade, not aid, makes the world go round. In Africa, sadly, the reverse is true. But, as Osei Boateng reports, if Africa is to make any real progress economically, the current global trading system presided over by the World Trade Organisation (WTO) must be drastically changed. If not, Africa will continue treading water. We have three in-depth reports on the WTO.
On 17 December 1909, when Winston Churchill was already an established cabinet minister, he went to address textile workers in Lancashire whose industry was then going through great difficulties. His topic was “tariff reform”. This is part of what he said:
“The supply of the raw material, the price at which cotton can be obtained, is an important factor in the prosperity of the cotton trade, and it is more than ever an important factor after a period such as that which we have just gone through, and when there have been a great many mills put up – perhaps too rapidly – and when the development and expansion of the mills of Lancashire seem to have gone forward in a bound and rather more quickly than the increasing growth of the cotton fields of the world could accommodate.
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