On Wednesday, 153 nations met to discuss the Doha Round, but left with little to no progress, states the Wall Street Journal. The Doha Round plan was created with a mission of opening rich-country markets to import food from the developing world. After eight years, little development has been made. Furthermore, issues such as the drop in trade and the hot topic of protectionism has reduced the enthusiasm to create a plan that everyone agrees with.
What is on the table doesn’t deliver “meaningful market access in the part of the world that will be growing and driving GDP growth over the next few years,” U.S. Trade Representative Ron Kirk said, in a reference to countries like China, India and Brazil.
Not all countries are statisified with what is on the table so far. Some believe that the wealther countries will still profit more than the developing countries.
But, as Mr. Kirk puts it best:
The Doha Round “is like a cricket match. You don’t know the score and it takes a long time, but it does end, and there is a winner.”
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