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Excerpts Contd...
The Collapse of the Talks
Even as various contentious issues emerged, the draft text that emerged halfway through the Cancún meeting was a huge disappointment.
The promises on cotton were vague, pledging a WTO review of the textiles sector, but with no mention of eliminating subsidies or of compensation. Worse, there was even a suggestion that the West African countries should be encouraged to diversify out of cotton.
The rich world's concessions in agriculture were also too timid and too grudging. America's bold promises were belied by its actions...
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The Road Ahead
Many economists and intellectuals worried that if the deadlock over different issues, especially agricultural subsidies continued, WTO would lose its momentum. The consequences for the organization itself would be grave. There would be little political impetus to make it more effective...
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Exhibits
Exhibit I: Members of the Cairns Group
Exhibit II: WTO Members as on April 4, 2003
Exhibit III: Observer Governments
Exhibit IV: International Organizations Observers to General Council
Exhibit V: World Exports of Merchandise and Commercial Services
Exhibit VI: Growth in the Value of Merchandise Trade by Region
Exhibit VII: Leading Exporters and Importers in World Merchandise Trade, 2002
Exhibit VIII: Price Effects of Trade Restrictions, Selected Industries and
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