Is commercial fishing industry subsidies macroeconomics?

India to oppose curbs on subsidies to poor fishermen at WTO meet

{ Global fishing subsidies are estimated at $35.4 billion, according to a 2019 study published in Marine Policy, opens new tab, and China, the EU, the United States, South Korea and Japan are among the top subsidisers.
Developing nations like India need differential treatment for their fishing industry in coming years, which is largely dominated by poor fishermen, officials said. }

Bolding by me. This is set up as rich vs “global south”.

https://www.reuters.com/world/india/india-oppose-curbs-subsidies-poor-fishermen-wto-meet-2024-01-25/

Over the last couple years there have been a half dozen reports of conflicts between FLEETS of Chinese fishing vessels and Australia, Indonesia (?), Argentina Coast Guards. Violent conflicts.

Ocean resources are mostly “open resources” loosely controlled by WTO mostly toothless agreements, and in danger of Tragedy of the Commons type over use.

:face_with_monocle: :flags:
ralph

“Global South” is the current woke meme for poor countries.
Stick around a couple years and we’ll get to adapt to the next meme.

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Yes.

Despite all the government meddling and Keynesian Economics some people still believe in the existence of mythical free markets.

The Captain

The problem is that it is a finite resource and some people do not understand that. When you have all the technology we have now and the resources keep being depleted, with many more people in competition for them, we have to have government meddling. Otherwise all the resources will be hunted and fished out of existence. When I first started hunting and fishing it was something you had to have skill in order to get, now all you need is the latest gear. We should make everyone hunt with bows and fish with bamboo rods then we can believe in free markets.

Andy

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Like some people handing out subsidies to get votes? Not to worry, money printing is an infinite resource. So we were told right here a few days ago.

BTW, the problem with Keynesian Economics is that only half is implemented while the other half is replaced by printing money, that wonderful inexhaustible infinite resource.

Anyone remember what happened when Spain mined El Cerro Rico de Potosi?

The Captain

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Not the same, nothing close to the same. I thought you said you had been around boats and understood the sea…

Andy

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I said the exact opposite! That I had seen much of the sea but had not understood the meaning of much of it. Wave patterns, birds, clouds, and much more. The Polynesians taught me a lesson or two. Seach TMF and you might find the post.

Even wonder how not to get lost in the vastness of the Pacific Ocean without GPS? Polynesians did it thousands of years ago.

The distance visible to the horizon from different heights

Climb a 25 foot mast and the horizon is less than seven miles away. You can easily sail between two flat atolls twenty miles apart and never know you missed them. But between dawn and dusk you might see birds and they must be within flying distance of land. They wander aimlessly during most of the day looking for fish. Near sunset they all head for home! Now you know in which direction there is land nearby. During the day, if you want to catch fish, sail to where the birds are congregating.

Pico Naiguatá, between Caracas and the sea, is 9,000 feet high. On a very clear day (almost never) you can see it from 72 nautical miles away. Land causes convection currents that form clouds which you can see from miles away. The right kind of cloud points to land.

The Captain

Like the Music Man said, you got to know the territory.

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