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08-02-2008, 11:54 PM #1
More Good News - WTO Falters Globalism Choking
http://www.nytimes.com/2008/07/30/busin ... de.html?em
After 7 Years, Talks Collapse on World Trade
By STEPHEN CASTLE and MARK LANDLER
Published: July 30, 2008
GENEVA — World trade talks collapsed here on Tuesday after seven years of on-again, off-again negotiations, in the latest sign of India’s and China’s growing might on the world stage and the decreasing ability of the United States to impose its will globally.
Kamal Nath of India said developing nations were concerned for their poor farmers.
Pascal Lamy, director general of the World Trade Organization, could not bridge differences between a group of newly confident developing nations and established Western economic powers. In the end, too few of the real power brokers proved committed enough to make compromises necessary to deliver a deal.
The failure appeared to end, for the near term at least, any hopes of a global deal to further open markets, cut farm subsidies and strengthen the international trading system.
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