Difficulties and Prospects of the Multilateral Trading System

Chen Deming

Chapter 4 in Economic Crisis and Rule Reconstruction, 2016, pp 77-112 from World Scientific Publishing Co. Pte. Ltd.

Abstract: It was not a hot summer in Geneva in July 2008, yet the atmosphere at 154, Rue de Lausanne, the WTO headquaters was tense and almost suffocating. This was the final sprint in the Doha Round. Since July 20, trade ministers from the key WTO members had been doing their utmost to achieve compromise in negotiations day and night in the famous Green Room located on the second floor of the building. Over the past one week of negotiations, the faces of all the ministers were full of weariness and anxiety. US Trade Representative Susan Schwab was restless and in a frustrated mood; some of the ministers who were unable to participate in the Green Room negotiations and had to endure the long wait outside, returned to their home countries. On July 29, the negotiations finally collapsed due to irreconcilable disputes on the agricultural special safeguard mechanism between Schwab and the Indian Union Cabinet Minister of Commerce and Industry Kamal Nath.

Keywords: Rule Reconstruction; International Economic and Trade Rules; Financial Crisis; G20; World Trade Organization; The Doha Round; Multilateral Trading System; Global Economy; Regional Trade Initiatives; International Investment; International Finance; Government Procurement; Intellectual Property Rights; Development Assistance; Sustainable Development; Globalization; Global Trade Regulation; Global Market Capitalism; Global Value Chain; Climate Change (search for similar items in EconPapers)
Date: 2016
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