The grip is slowly tightening. The United States has launched an all-out offensive using the three most important instruments of global economic power – the World Trade Organisation (WTO), the World Bank and the International Monetary Fund (IMF) – and bilateral pressure applied directly on governments of the South. This time, the theme is not oil but global acceptance of genetically modified (GM) foods and crops.
The battle for control of the global food chain has begun. The Bush administration fired the opening salvo in May by announcing that it would lodge a formal complaint with the WTO against the European Union (EU) for the latter's five-year ban on approving new biotech crops, setting the stage for an international showdown over an increasingly controversial issue. Interestingly, the US trade representative, Robert Zoellick, says that the EU policy is illegal, harms the American economy, stunts the growth of the biotech industry and contributes to increased starvation in the developing world.