As developing countries acquire a powerful voice, the US shuns multilateral
trade deals because it can no longer get its own way
Martin Jacques, 13 July 2006, The Guardian
The freer movement of trade and capital has been a
fundamental characteristic of the past 25 years of globalisation. The
Doha round, initiated in 2001, was the latest attempt to keep the
process rolling. It now looks doomed. The deadlock between the US, the
EU, Japan and the developing countries seems final. And with the
fast-track powers of the US president - which enable trade agreements
to bypass Congress - scheduled to come to an end in 2007, any agreement
later than this year will be subject to the unpredictability and delay
of Capitol Hill. In other words, it is now or never, and it looks more
and more like never.