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Breaking News - World trade talks reportedly fail

by jaydeepmensa | July 29, 2008 at 08:17 am

403 views | 22 Recommendations | 9 comments

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.

Repeated failure

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.

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julianw

flagged this story as Good Stuff

at 11:32 on July 29th, 2008

I don't think rich countries are purposely trying to keep poor countries poor, but rich countries definitely do try to lower barriers to their exports while protecting their national industries, which hurts poor countries. Jeffrey Simpson argues that Canada is the chief hypocrite.

jaydeepmensa

at 12:01 on July 29th, 2008

I Agree with you, I don't think Rich countries does thing purposely, however you have to wonder by seeing the policies, that really does not help any one. Its a reality now, that we live in a globalized world, and we all need each other, so I do hope at some time we can come to some conclusion which will result better life for everyone, not just a few.

infomatique

flagged this story as Good Stuff

at 13:49 on July 29th, 2008

jaydeepmensa, I like this story. It's good stuff.

One on the reasons why Ireland voted against the Lisbon Treaty was that Irish farmers were convinced that they were being sold down the river by Peter Mandelson at the WTO talks and while the Government claimed that the Lisbon Treaty was in no way linked with the WTO talks many in Ireland were not convinced.

Now that the talks have failed Irish Farmers are more than pleased.

Irish farming groups have welcomed the collapse of the World Trade Organisation talks in Geneva, claiming Irish agriculture has been saved from a potential “catastrophe”.

Farming representatives have repeatedly called for Tánaiste Mary Coughlan to exercise Ireland’s veto at the talks, claiming they were being forced into concessions that would destroy the agricultural industry.

Nine EU states, including Ireland and France, had demanded better terms for the union during negotiations before they collapsed today.

Irish Farmers Association president Pádraig Walshe today thanked Mr Sarkozy for “defending European agriculture” and saving Ireland from a deal that would “would have cost €4 billion in losses in the agriculture and food industries.”

He renewed his call on Ms Coughlan to support the French government "in now tearing up the EU WTO offer as the other parties have walked away from the table."

Paschen

flagged this story as Good Stuff

at 16:46 on July 29th, 2008

jaydeepmensa, I like this story. It's good stuff.

julianw

at 16:46 on July 29th, 2008

Canada is turning to bilateral trade agreements.

Canada will move aggressively to negotiate individual country-to-country trade deals to protect its economic interests amid an abrupt collapse of global talks in Geneva, Trade Minister Michael Fortier said.
Canada would be at the table whenever talks resume, but is not waiting for a multi-national agreement, Fortier said.

jaydeepmensa

at 00:17 on July 30th, 2008

Nice Input, good to get the view from Ireland. I am not really sure if I agree with this, what is happening in Western Countries, in the name of Food Security, they are subidising the agriculture industry. Which is fine as long the World was not to globalized, now you have a farmer from USA, farming Wheat on a industrial scane and then exporting it to other countries, he also enjoys government grants, then a poor farmer from India, who got only a small piece of land, tries to sell his products in the world market, can not compete with these big farmers. Now, I am sure everyone will agree that this is wrond. Also, have you ever thought if the subsidies to the Agriculture are taken away, how much money will be free to be used for public services, like NHS in UK, which needs money badly.