The World Trade Organisation (WTO) is in a crisis of sorts. At stake is its credibility to get the member countries to agree on a host of liberalisation measures that would lead to successful completion of the Doha Development Round by the year-end. Last week-end, the 60-odd trade ministers of the WTO member countries who had gathered at Geneva to hammer out an agreement had little progress to show after days of intense parleys. (Business Standard, Monday)
If the U.S. is supposed to be the world's leader, why doesn't it lead the way to unilateral free trade?
FEE Timely Classic
GATT and the Alternative of Unilateral Free Trade by Pierre Lemieux