Tuesday, August 08, 2006

Is the WTO KaBoom?

Seattle and Doha are the precursors of the WTO's future - and its course MUST be altered. I found an interesting discussion of how this could happen written by Razeen Sally in Business Day newspaper. Professor Sally teaches at the London School of Economics and is a senior associate fellow at the Institute of Southeast Asian Studies in Singapore. This article is the light at the end of the tunnel: a must read! Business Day Newspaper

Here are a few quotes:

"In essence, the WTO suffers from severely diminishing returns. In contrast to the General Agreement on Tariffs and Trade, it has a bigger, messier, politically more controversial agenda, shot through with multiple and contradictory objectives. And decision-making is crippled in a general assembly with near-universal membership."

"To get the WTO out of its rut after Doha, its members need to do three things: restore focus on a core trade-liberalisation agenda; revive effective decision-making; and, not least, scale back ambitions and expectations."

"A group of about 50 capable and willing members should explore ways of reviving negotiations on core market access (agriculture, industrial goods and services) and rules (such as antidumping procedures and subsidies), though in a restricted setting and not as part of another "round"."

Did you find the Business Day article a refreshing approach? Please let us know.


Blogger Laurel Delaney said...

Yes -- I found Sally's remarks brilliant and emailed him to weigh in with additional comments on this important topic.

Thanks for the great find.


9:09 PM  

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