Skip to comments.The Not-So-Omnipotent China
Posted on 08/07/2008 12:05:09 PM PDT by bs9021
The Not-So-Omnipotent China by: Daniel Smith, August 07, 2008
As the worlds attention and conspiracy theorists turn to Beijing this August, Western nations should not forget Chinas role in The Collapse of the [World Trade Organization (WTO)] Doha Round Trade Talks in Geneva on July 29. The facts of the failed negotiations reveal a more impotent China than Americans would expect.
Frank Vargo, chief spokesman on trade issues for the National Association of Manufacturers (NAM), viewed the collapse of the seven-year Doha Rounds as a watershed. He was one of several distinguished panelists who addressed a crowd at the American Enterprise Institute on August 6. Vargo attended the Ministerial in Geneva and provided daily reports to NAM. In his view, the breakdown of the talks reflected a failure of flawed philosophy. The flaw was that Doha would be a one-way deal.
Hoping to kickstart the negotiations, the U.S. and the European Union (E.U.) advanced new agricultural efforts. The E.U. offered to cut its subsidies an additional 60%, and the U.S. offered to reduce its subsidy ceiling to $15 billion. Brazil set the tone for the negotiations by sneer[ing] at both offers. Nor was Brazil alone. By day two of negotiations, the three primary big emerging manufacturersBrazil, China, and Indiacreated a three-way pact that opposed both U.S. and E.U. concessions.
Vargo reported that Kamal Nath, Indias Trade Minister, accused the U.S. and Europe of non-competiveness in the manufacturing industry. In response, as an aside on his day-to-day reports, he accused India of hiding behind [their] huge tariff wall. Developing countries like China, Brazil, and India, use tariffs as a source of national income, much like the United States did during its rise to preeminence....
(Excerpt) Read more at campusreportonline.net ...
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