Thursday, July 31, 2008

Good news! Doha Round of WTO negotiations collapses!

An article by Stephen Castle and Mark Landler in yesterday's The New York Times reported that the Doha Round of the WTO negotiations just collapsed. The story doesn't mention that the Doha Round does not address mercantilist government currency manipulations, a glaring oversight that makes the whole agreement worthless.

According to the New York Times article, the chances of this incompetent agreement passing in the future are minimal given changing political opinion in the countries that are being victimized by mercantilism. Specifically:

Deep skepticism about the advantages of free trade was on vivid display during the Democratic primaries and it is growing in Europe, particularly as France, Italy and other countries have fallen into an American-style economic malaise.


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