Thursday, July 31, 2008

Doha Round Collapses - Again

Again, the Doha round of negotiation has ended with no resolution.

Developed and developing countries are not able to create a framework to lower trade barriers on agricultural goods.

The result is that world trade will continue to function unevenly through bilateral trade deals and WTO rulings.

For consumers looking for a break on rising food costs - keep looking. Right now, the governments of the world are not looking out for your pocketbooks.

Interestingly, Brazil seems to be a powerhouse in this round of negotiations. Rising commodity prices and over a decade of sound fiscal policy and social investment, have left Brazil with a strong economy and currency and a rising middle class. Because of this, Brazil was able to remain firm on issues important to them.

Focusing on improving your own country seems to make you stronger internationally. Who knew?