Riots from Haiti to Bangladesh to Egypt over the soaring costs of basic foods have brought the issue to a boiling point and catapulted it to the forefront of the world's attention, the head of an agency focused on global development said Monday.
"This is the world's big story," said Jeffrey Sachs, director of Columbia University's Earth Institute.
"The finance ministers were in shock, almost in panic this weekend," he said on CNN's "American Morning," in a reference to top economic officials who gathered in Washington. "There are riots all over the world in the poor countries ... and, of course, our own poor are feeling it in the United States."
World Bank President Robert Zoellick has said the surging costs could mean "seven lost years" in the fight against worldwide poverty.
"While many are worrying about filling their gas tanks, many others around the world are struggling to fill their stomachs, and it is getting more and more difficult every day," Zoellick said late last week in a speech opening meetings with finance ministers.
"The international community must fill the at least $500 million food gap identified by the U.N.'s World Food Programme to meet emergency needs," he said. "Governments should be able to come up with this assistance and come up with it now."
The White House announced Monday evening that an estimated $200 million in emergency food aid would be made available through the U.S. Agency for International Development.
Hey, I got an idea! How about you guys go ask China or Russia, or even Iran or Saudi Arabia for the extra $300 million you need to fill that gap eh? Why don't you ask them for help? I'm sick and tired of giving away or selling at an insanely low price, all our goods and good will, only to get spit upon when we offer a hand.
I'm sure any of the above mentioned countries would be happy to help you out.
Or, how's this, we'll drop the price of food, if you talk to your buddies about dropping the price of oil.
See, it's win-win for everyone involved. Until then, enjoy your skyrocketing prices.
Travis
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