Breaking News - World trade talks reportedly fail
A lot has been written on World Trade Talks and though I am yet to understand how these talks would have made life different to millions of people who lack basic amenities of life, however now that they have failed, there is no hope at all.
I do not really know whose fault it is, but one of the ways that Rich countries can maintain their lifestyle is to keep other countries poor. By that I mean, Rich Nations would make sure that people in poor countires lack basic things, so that they can enjoy their cars, AC, heater, 2 time vacation etc. As you can see that the rise of middle class in India and China is having an impact and the Rich Nations do not like that. The price of oil has risen and part of it is cos of increase demand from these countries. So, by making sure that people in emerging countries dont have enough oppurtunities to make life better for themselves Rich countries are only protecting their way of life. BRAVO.
World trade talks reportedly fail
Marathon talks in Geneva aimed at liberalising global trade are reported to have ended without adeal.
The talks collapsed after China, India and the US failed to agree on how to reform farm trading rules, trade officials told Reuters and AP.
Earlier, European Union Trade Commissioner Peter Mandelson said a stalemate was an appalling prospect.
World Trade Organization delegates are trying to ease international trade and boost global economic growth.
An official statement is expected later.
The negotiations had floundered as trade officials gathered for a ninth day.
This round of trade talks initially started in 2001 with the aim of remedying inequality so that the developing world could benefit from free trade.
They have repeatedly collapsed as developed countries have failed to agree with developing nations on terms of access to each others' markets.
The US and the European Union want greater access to provide services to fast-growing emerging countries, including China and India.
Meanwhile, developing countries want greater access for their agricultural products in Europe and the US.
I just saw this on BBC, can some one flag this as News Wanted.