The WTO Talks at Geneva collapsed yesterday after nine days of deliberations…These talks were part of the DOHA Round that originated years ago…….the stalemate continues as USA refuses to budge on quantum of it’s agricultural subsidies to it’s farmers….It agreed to a cap of US $ 15 billion every year,but this makes little sense as the total subsidies were US $ 7 billion last year…so where is the cut ?
India on the other had refused to open out it’s auto and food markets and absolutely rightly so to protect the livelihood of millions of workers and farmers and the huge Investments flowing into India …USA wants that India should protect only 50% of it’s Textile and Auto sectors and it wants to see a 40% leap in Imports into India…….It cares two bits about India’s security and protective Measures in the Safety Mechanism framework….Just imagine the horrendous plight of millions of India’s farmers if India’s Food Imports leap crazily from the heavily subsidised farmers in USA !
USA is desperate to reduce it’s deficit and save it’s Dollar from weakening further….It’s bullying tactics may continue but with the World’s Economic Order Changing the World no longer fears the Washington consensus
USA should now accept and concede that WTO does not stand for We’ll Take Over….It needs to be transperant and fair when it negotiates and stop taking U Turns in it’s stances.