Sunday, August 3, 2008

The Doha Debate

The Doha Summit organized by the WTO has been the talk of the table for a while now. What is it all about then? Here is an excerpt form the Yaleglobal Online.
The collapse of the Doha trade talks suggest that the motivation for global cooperation is waning. The goal of the Doha round was to eliminate special subsidies and tariffs on agricultural products to boost economies of the world’s poorest nations. WTO rules require that all 153 members reach consensus on such trade decisions. But the emerging economies of China and India looked to protect their economic status, as evidenced by demands for the right to re-impose or raise tariffs should food imports increase. “In terms of impact on economic growth, the issues at stake in the round were fairly small compared to the global-warming debate,” report Bob Davis and John Miller for the Wall Street Journal. “Limiting the rise of greenhouse gases could hit growth by forcing industry to retool factories and consumers to alter lifestyles. That sacrifice could prompt an even fiercer reaction from New Delhi and Beijing.” The globe is burdened with a national system of selfish players, all pursuing economic growth and expecting “others” to accept limits. – YaleGlobal

Te following are a collection of articles and writeups on the topic.
The Economist: Defrosting Doha
The Economist: The Doha round...and round...and round
Yaleglobal Online: Trade Talks' Failure Weighs on Other Issues

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