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OECD:China Near Overheating, Soft Landing Most Likely

There are some signs that China's economy is overheating, but the most likely scenario is for a "soft landing" via a gradual cooling of growth rates, the Organization for Economic Cooperation and Development said Tuesday in its latest Economic Outlook report.

The Heavy Thud Of American Cotton

Uncle Sam got slapped on the side of the head last month when a World Trade Organization (WTO) panel ruled that multibillion-dollar subsidies by the US to domestic cotton producers violated international trade rules. "This is big stuff," says Clyde Prestowitz, president of the Economic Strategy Institute in Washington.

EU Offers To Eliminate Its Farm Export Subsidies At World Trade Talks, But Only If U.S., Canada, Japan Follow

Aiming to boost world trade talks and get poorer countries on side, the European Union's top trade negotiators proposed Monday that rich nations, including the United States, Japan and Canada, drop all forms of subsidies on farm export products. EU Trade Commissioner Pascal Lamy said the EU was ready "go the extra mile" to get a midterm deal by July at the World Trade Organization.

Take That, U.S. Farmers!

When a World Trade Organization court ruled on Apr. 26 that subsidies paid to American cotton farmers flout international trade rules, it did far more than just administer a wrist slap to the Bush Administration. The U.S. -- and Europe and Japan as well -- put all of their chips on the WTO backing their position. But they were beaten big time by the world's struggling nations instead.
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