The WTO is dead, long live WTO!
The World Trade Organization (WTO), established in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT), was envisioned as the guardian of free and fair global trade.
The World Trade Organization (WTO), established in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT), was envisioned as the guardian of free and fair global trade.
India’s growth rate was much higher than the 4 per cent increase posted by China and Germany.
The World Trade Organization (WTO) 13th Ministerial Conference at Abu Dhabi has been extended until Friday, March 1, to allow further discussions and facilitate outcomes on main issues.
It also discussed how this emerging segment of the global economy holds the promise for economic development and prosperity for the developing countries, including the least developed countries (LDCs).
Both the countries said that as there is no consensus on the agreement, and that it could not be included in the outcome of MC13.
The spokesperson said China and India were the opportunities of development for each other rather than strategic threats.
Observers do not expect the organization to settle on one candidate by the time Roberto Azevedo steps down in late August. If this is the case, a deputy director-general will be chosen for the post on an acting basis until a decision can be made. The leadership race comes amid deep dysfunction in an organization meant to be the guardian of free trade. Ever since President Trump assumed office in 2017, he has blasted the WTO as unfair to Washington, particularly regarding American trade disputes with China.
Amid growing concern across the world that Chinese companies are buying distressed assets hit by the COVID-19 pandemic, the Government on Saturday reviewed the extant Foreign Direct Investment (FDI) policy for curbing opportunistic takeovers/acquisitions of Indian companies.
Alleging that China has taken advantage of the United States for 30 years, he said, China has taken advantage of the US through WTO and using rules that are unfair to the United States.
The current foreign trade crisis has a faint silver lining. With China hamstrung because of the coronavirus scare, the present disruption can be an opportunity to expand our foreign trade, but only if we realise that the Indian economy is now strong enough to play a proactive role in world trade. Instead of fretting at being excluded from the list of developing countries, we should start behaving like a developed country, by taking on the US and China at their own game
