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Difficulties and Prospects of the Multilateral Trading System

In: Economic Crisis and Rule Reconstruction

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  • Chen Deming

Abstract

It was not a hot summer in Geneva in July 2008, yet the atmosphere at 154, Rue de Lausanne, the WTO headquaters was tense and almost suffocating. This was the final sprint in the Doha Round. Since July 20, trade ministers from the key WTO members had been doing their utmost to achieve compromise in negotiations day and night in the famous Green Room located on the second floor of the building. Over the past one week of negotiations, the faces of all the ministers were full of weariness and anxiety. US Trade Representative Susan Schwab was restless and in a frustrated mood; some of the ministers who were unable to participate in the Green Room negotiations and had to endure the long wait outside, returned to their home countries. On July 29, the negotiations finally collapsed due to irreconcilable disputes on the agricultural special safeguard mechanism between Schwab and the Indian Union Cabinet Minister of Commerce and Industry Kamal Nath.

Suggested Citation

  • Chen Deming, 2016. "Difficulties and Prospects of the Multilateral Trading System," World Scientific Book Chapters, in: Economic Crisis and Rule Reconstruction, chapter 4, pages 77-112, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814740951_0004
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