Don’t Cry for Doha
The latest failure of global trade talks has alarmed many, but the collapse of the negotiations was both inevitable and inconsequential. The Doha Round was constructed on a myth, namely that an agenda focused on agriculture would constitute a “development round,” and that its success was crucial to lifting tens, if not hundreds, of millions of people out of poverty.
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CAMBRIDGE – Will they or won’t they? Will the world’s trade ministers eventually sign a new multilateral trade agreement that reduces agricultural subsidies and industrial tariffs, or will they walk away empty-handed? The saga has been ongoing since November 2001, when the current round of negotiations was launched in Doha, Qatar, with numerous subsequent ups and downs, near-collapses, and extensions.