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Politics : Foreign Affairs Discussion Group

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To: FaultLine who started this subject	9/23/2003 8:54:03 AM
From: Elsewhere	Read Replies (1) of 281500

World Bank Chief Scolds Rich Nations By Dirk Beveridge, AP Business Writer Yahoo! News Tue, Sep 23, 2003 news.yahoo.com DUBAI, United Arab Emirates - The World Bank opened its annual meeting Tuesday with a blistering attack on rich countries for spending hundreds of billions more on their militaries and their farmers than they do on helping the poor. "Our planet is not balanced," World Bank President James Wolfensohn told delegates from 184 countries. "Too few control too much, and too many have too little to hope for. Too much turmoil, too many wars. Too much suffering." The failure of global trade talks this month in the Mexican resort of Cancun highlights the deep divide that must be overcome to create a stable future, Wolfensohn said in an opening address to the joint meeting of his bank and the International Monetary Fund. He criticized rich countries for providing just $56 billion a year in development assistance to poor countries, compared with more than $300 billion they spend on agricultural subsidies and $600 billion spent on defense. ...

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