Dead Parrot Trade Talks

Failure to complete the decade-old Doha Round of trade talks would severely weaken the World Trade Organization. An original deadline set for January 2005 has long passed. Jagdish Bhagwati, a leading trade economist, urges setting another deadline: Complete the Doha Round by the end of the year, or consider the talks dead. The round, aiming to reduce trade barriers in agriculture and service sectors, requires approval of all WTO members. Brazil, India, China, Europe and the US still resist. Bhagwati urges leaders who favor expanded trade, like the UK’s David Cameron or Germany’s Angela Merkel, to take the lead and, in particular, confront the United States, which balks at reducing agricultural subsidies. The timing could be right as consumers oppose rising food prices and President Barack Obama seeks common ground with Republicans, a party that traditionally favors free trade. Open, unsubsidized trade in agricultural goods is a winning policy for wealthy and poor nations alike. – YaleGlobal