The agriculture sector is under strong criticism for its harm to the environment. Multilateral disciplines on agricultural subsidies are considered too weak, but at least they exist. The damage caused by subsidized fishing is less obvious to the layman because it lies under the sea. One study concludes that two-thirds of the world’s 4,714 fisheries are compromised and there is the risk of a global fisheries collapse.  Like other areas of government induced marketplace distortions, there are currently WTO negotiations to discipline fisheries subsidies. The goal is to conclude something by year’s end but there are many hurdles. Countries cannot even agree on the negotiating process, let alone agreeing on what is a fish and w...

TAGS – Asia, China, North America, Macroeconomics