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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (27662)	4/17/2005 12:14:01 AM
From: regli	Respond to of 116555

>>Japanese minister says no need for free trade pact with Australia<< I am not surprised that Japan's agriculture minister is against it. I think the highly subsidized Japanese rice farmers would see tremendous pressure on prices. They also are a very effective lobby. "A full 64% of Japan's rice farmers pursue farming as a sideline to supplement their main source of income. The total annual income of such farmers averages ¥7.92 million, of which only ¥120,000 comes from farming. Surely this supplementary income does not merit government protection. The annual income of these part-time farming households far surpasses that of regular wage-earning households, which averages only ¥6.62 million. It would be hard to convince the public of the need to provide direct compensation to part-time farmers who have the safety net of another job or business." rieti.go.jp