Has Free-Trade Era Died With Doha?

IBD Editorials ^ | July 30, 2008

[Kaslin]

Trade: The collapse of the Doha round of world trade talks is more than a bureaucratic event. It's a tragedy for the global economy, both for developing nations and those already wealthy.

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Fact is, the world economy could use a little help. Having suffered housing meltdowns, financial crises, and soaring energy and food costs, many nations will struggle to grow over the next few years. Many will find themselves poorer by decade's end.

That's why the Doha Round of trade talks, named for the city in Qatar where discussions began in 2001, was so important. It would have opened key markets to the U.S. and other countries, while opening our own markets to cheaper imports. These are what game theorists call "win-win" situations.

In the end, the 153 nations that make up the World Trade Organization couldn't see eye-to-eye on trade, even after seven years of discussion. The reason for the failure is simple: China and India, representing a third of the world's population, want rich countries to open their markets further but still want protect their own farmers. And rich countries weren't going for it.

[yefragetuwrabrumuy]

The essential problem with free trade is that many countries want something for nothing, and also want to protect their domestic business with trade barriers.

While willing to take everything, they are unwilling to give anything.

[pissant]

Good. Let’s start dealing with countries bilaterally as we should. Defund the WTO globalists.

[ken21]

are you against international trade?

[pissant]

Not at all. I’m against supra national entities having ANY authority over US international trade.

[PAR35]

are you against international trade?

Are you in favor of dead pets, defective airplane parts, tire stems that will cause catastrophic blow outs, toys coated with lead, glue guns that will burn your house down, etc?
http://www.cpsc.gov/cgi-bin/cmfg.aspx

[E. Cartman]

Good start, but don’t forget to add phoney drugs, faulty medical equipment, formaldehyde-poisoned food and exploding tires.

[E. Cartman]

Not at all. I’m against supra national entities having ANY authority over US international trade.

Spot on. Anyone who'd subordinate US sovereignity to "free trade" is a traitor and should be dealt with us such.

[redgolum]

The trouble with free trade now is the same trouble there was in the 18th and 19th century. It is a pipe dream.

Basically, it doesn't exist. We do not have free trade with any country in the world. We do however open ourselves to exploitation by many.

[Publius Valerius]

Spot on. Anyone who'd subordinate US sovereignity to "free trade" is a traitor and should be dealt with us such.

Except this has never happened. This is a seriously lame response from those that oppose the WTO's work.