When the latest efforts to close the Doha Round ended abruptly in December 2008, entrenched negotiating positions were a factor; but underlying systemic issues, ignored in many accounts of the stop-and-start history of the Round since 2001, were of greater significance: these include countries trading more but earning less; the dangers of premature deindustrialization; a growing technological divide and diminishing policy space. While addressing these systematic challenges will be key to the future stability of the multilateral trading system, the immediate threat to international trade comes from a deeply dysfunctional system of unregulated finance. Fixing that should be the urgent priority of the international community.
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March 17, 2009 / aid, climate change, financial crisis, G20, imf, trade, world bank, wto
Tags: developing countries, G-20, governance, trade
