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Global Financial Crisis Focuses Minds on Doha
The chair of the farm trade talks at the WTO has warned Members that they must quickly show signs of new flexibility if an accord on the ‘modalities’ for agriculture subsidy and tariff cuts is to be struck before the end of the year. A meeting last weekend of 20 major economic powers in Washington gave…
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G-20 Recognises Central Role of Emerging Economies
A weekend was never going to suffice for leaders from major industrialised and developing countries to redraw the rules governing global finance, as they met to grapple with the financial crisis and the prospect of a prolonged global recession. Instead, heads of state from the Group of Twenty, whose countries account for the lion’s share of…
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Financial Crisis Threatens Global Trade Flows, WTO Says
The market for trade finance - what many consider the lifeline of cross-border commerce - is deteriorating, the head of the WTO said last week, and with the situation not likely to improve anytime soon, there could be serious ramifications for international trade. Director-General Pascal Lamy gathered 30 representatives of private banks, financial institutions and export…
- In Brief
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Obama Calls for Carbon Trading Scheme, Vows Strong Action on Climate
US President-elect Barack Obama pledged on Tuesday to “engage vigorously” on climate change issues upon entering office in January. “Climate change and our dependence on foreign oil, if left unaddressed, will continue to weaken our economy and threaten our national security,” he said in a surprise video message to a summit of government officials from the…
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China to Sign FTA with Peru; Other Deals May Soon Follow
China and Peru were set to sign a free trade agreement at a high-level summit in Lima on Wednesday, finalising a deal that could make the Asian giant Peru’s number one trading partner. The deal is just one of many that China has signed as it continues its search for new sources of raw materials and…
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World Energy Outlook Calls for ‘Global Energy Revolution'
Reaffirming previous predictions about the world’s heavy reliance on fossil fuels, the 2008 edition of the International Energy Agency’s World Energy Outlook called for massive investment in energy development and urgent action to address climate change, but its projected oil growth rates were scaled back from earlier calculations due to the current recession. “Current trends in…
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UNCTAD Chief Predicts Drop in Remittances to Developing Countries
Migrant remittances to developing countries are likely to drop next year thanks to the global economic crisis, the head of the UN’s trade and development branch said last week. “It is thus clear that the idea that developing countries would somehow be ‘de-coupled’ from the crisis is a myth,” Supachai Panitchpakdi told an executive session of…
- WTO in Brief
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EU Scrutinises US Auto Industry Bailout Proposals
Two competing US$25 billion packages aimed at bailing out the US auto industry have been under debate in the US Congress this week, but the EU has threatened to take international action if the package that emerges contravenes international trade law. If the successful proposal includes state aid that violates Washington’s world trade commitments, the EU…
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China to Ease Restrictions on Foreign News Providers
China agreed last week to loosen state controls on news services and providers of financial information, putting an end to a trade dispute with Canada, the EU and the US. A new regulatory framework will be put in place by 1 June next year, according to memorandums of understanding that China struck with each…
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WTO Registers Drop in Use of Safeguards
WTO Members are not invoking special import restrictions to protect domestic producers as frequently as they did in the past, according to a WTO report released on Monday. The safeguard mechanism is intended to shield producers from sudden surges in imports or drastic drops in the price of the goods they produce. If a specific volume…
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WTO Panel to Investigate Thai Duties on Foreign Cigarettes
The WTO convened a panel on Monday to investigate a complaint from the Philippines over Thailand’s import duties on foreign cigarettes. Manila argued that the taxes violated global trade rules and unfairly discriminated against its cigarette exporters. The Thai Tobacco Monopoly (TTM), whose cigarettes are bought by approximately 80 percent of the Thai market, is the only…
- Events
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Events
Coming up: 20- 26 November 20 November, London, UK. AFRICAN AGRICULTURE SERIES: AN AFRICAN GREEN REVOLUTION? In this inaugural meeting of the African Agriculture Series, the speakers will discuss the role of agriculture in Africa today. Across the continent, agricultural output per person has fallen 15 percent over the past 40 years. Most experts agree the…
- Resources
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Resources
CLIMATE CHANGE NEGOTIATIONS: CAN ASIA CHANGE THE GAME? By Christine Loh, Andrew Stevenson and Simon Tay. Civic Exchange and the Singapore Institute of International Affairs, November 2008. This book focuses on the question: how can and should Asia and the states in the region respond to the global challenge of climate change? It provides a…