The twists and turns of the Doha talks and the WTO
By Martin Khor
Welcome to this session on Doha and the Multilateral Trading System – From Impasse to development? which the South Centre is pleased to co-organise.
This session aims to look at what the future holds for the WTO, in particular in relation to the development dimension, and the interests of the developing countries.
After the Uruguay Round, the developing countries went into a mood of reflection because many of them were not active in the negotiations and did not fully understand what they had signed on to or the implications. So for a number of years after 1995, for the developing countries, their priority in the WTO was to understand the obligations they had entered into and the problems of implementation, particularly in new issues such as TRIPS, Services, TRIMS which they had been obliged to take on as new obligations, in exchange for the re-entering of agriculture and textiles into the GATT system. And to get the WTO to review and possibly reform its rules.
Towards an alternative narrative for the multilateral trading system
By Faizel Ismail
This presentation will argue that the recent attempts by some policy makers to use the concept of Global Value Chains (GVCs) to make a case for increased trade liberalization is deeply flawed for three reasons: First because it attempts to bring back the notion of a self-regulating market that is disembedded from society and divorced from the asymmetries in economic power that characterize today’s interdependent global economy; Second, because it attempts to revive the discredited Washington Consensus; and third because it does not provide a framework for helping developing economies develop beyond their current comparative advantages. Consequently, this approach to trade liberalization we will argue is a false basis to re-invigorate the current Doha round and to deal with the crisis in multilateralism. We will attempt to provide an alternative and more sustainable basis to rebuild the multilateral trading system.
Current issues in the WTO negotiations: a development view
By Jayant Dasgupta
Transcript of remarks of Ambassador Jayant Dasgupta, Permanent Representative of India to the World Trade Organization made at the WTO Public Forum session on Doha and the Multilateral Trade System: From Impasse to Development? on 26 September. (more…)
Trade and Investment Agreements—Barriers to National Public Health and Tobacco Control Measures.
An arbitral tribunal is expected to issue soon a decision on jurisdictional matters in a case brought by Philip Morris against the government of Uruguay. The claim, based on a bilateral investment treaty (BIT) between that country and Switzerland, challenges packaging and labeling requirements for cigarettes adopted by Uruguay to reduce tobacco’s consumption. (more…)
Rethinking Regulation in Light of the Financial Crisis
By Yaga Venugopal Reddy
There is a recognition that policies relating to regulation of the financial sector must optimise the benefits of the financial sector while minimising the costs or risks associated with it. There are several dimensions to striking this balance, which this august audience is well aware of and involved with. I selected three themes for consideration today: the optimal level of financialisation, appropriate innovation in the financial sector, and the effectiveness of financial sector regulation.
Staring with Malaysia in 2003, many Asian countries are now taking actions to promote cheaper medicines through compulsory licensing, with Indonesia being the latest case. (more…)
The latest round of UNFCCC climate negotiations in Bangkok in September has revealed a major problem. The Bali Road Map launched in December 2007 had 2 tracks. The Kyoto Protocol track seems to be ending in a very weakened outcome, while the Bali Action Plan track is in danger of being killed without a proper closure or a transfer of its unsettled issues.
South facing unfavourable global conditions; rethinking growth strategies is imperative
By Yilmaz Akyüz
The high-growth performance of many developing countries in 2003 to 2008 and then their quick recovery from the 2008-9 global financial crisis was largely due to favourable external conditions, including the policies in developed countries. (This was analysed in the previous issue of South Bulletin). However, these conditions do not exist today and in fact the global conditions have turned unfavourable. Hence developing countries are now facing serious vulnerabilities and risks to their economic situation, with each category of countries facing their own specific problems. Developing countries have to consider changing their growth and development strategies, in light of the changing global situation.
Statutory Sovereign Debt Workout Mechanisms: Why and How?.
Because of the absence of a multilaterally agreed legal system for debt workouts, the practice tends to be ad hoc and disorderly, generally favouring creditors. Often the IMF is involved in coordinating and resolving debt servicing difficulties, be it due to solvency or liquidity problems, based on an adjustment programme agreed with the debtor country. (more…)
Financial Instability as a Threat to Sustainable Development.
As seen over and again during recurrent financial crises in both developing and advanced economies (DEs and AEs), including the recent global crisis originating in the US and Europe, financial instability and boom-bust cycles undermine all three ingredients of sustainable development – economic development, social development and environmental protection. (more…)
India to increase supply of free generic medicines: some key issues
By Nirmalya Syam
Recent reports indicate that the Indian government plans to increase manifold its spending on procurement of generic medicines for supply free to patients. This is welcome news. However, it is important to ensure future supply of generic medicines by addressing the present problems facing the Indian drug industry.
Developing countries are increasingly being adversely affected by the economic recession in Europe and the slowdown in the United States.
The hope that major emerging economies like China, India and Brazil would continue to have robust growth, de-coupling from Western economies and becoming an alternative engine of global growth has been dashed by recent data showing that they are themselves weakening.
