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[Davos Newbies]: Frightening statisticsæ
Martin Wolf in yesterday’s Financial Times pulled out some frightening statistics.
The OECD countries — essentially the world’s 30 richest nations — spent $311 billion on domestic agricultural subsidies in 2001. They spent $52 billion on aid to all countries. The 2001 GDP of sub-Saharan Africa was $301 billion.
Worse, the annual dairy subsidy in the European Union in 2000 was $913 per cow. The average income in sub-Saharan Africa was $490 per capita. The EU’s annual aid to sub-Saharan Africa was $8 per person.
These are truly shaming figures.