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After Doha: Evolution or Revolution in the World Trading System?

Author

Listed:
  • Garhy Hufabeur

    (Peterson Institute for International Economics)

  • Costantino Poschedda

    (Peterson Institute for International Economics)

Abstract

The Doha Development Round of multilateral trade negotiations (often referred as the DDR) came to a halt in July 2006. This break followed several unsuccessful attempts to agree on modalities for reducing agricultural subsidies and protection. At Davos, in January 2007, world leaders pledged to resurrect the DDR talks and reach a successful agreement. Yet, in February 2007, the outcome remains in doubt. It seems most unlikely that a robust DDR agreement will be concluded – even though, with much effort, a shallow deal is still in sight. In this brief, we start with a short overview of the world trading system since the Second World War, emphasizing the contribution that trade liberalization makes to world growth. Next we summarize the causes of the DDR breakdown. This is followed by an examination of three different scenarios for the future of the world trading system, highlighting risks and opportunities associated with each. We conclude with bold predictions.

Suggested Citation

  • Garhy Hufabeur & Costantino Poschedda, 2007. "After Doha: Evolution or Revolution in the World Trading System?," Information Bulletins 1101, Western Centre for Economic Research.
    • Handle: RePEc:alb:series:1101
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    File URL: http://hdl.handle.net/10402/era.31106
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    Cited by:

    1. Hlavac, Marek, 2010. "Less Than a state, more than an international organization: The Sui generis nature of the European Union," MPRA Paper 27179, University Library of Munich, Germany.

    More about this item

    Keywords

    International Trade; Free Trade; Doha Development Agenda;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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