“Miserly progress made on Doha trade talks”

Alan Beattie has a long(ish) summary of the Doha round’s dim prospects in the FT. It begins: “If Charles Dickens wanted a bleak setting for a rewrite of A Christmas Carol, his classic tale of regret and redemption, he could do worse than the World Trade Organisation.”

Here’s a tidbit that caught my eye:

Bernard Hoekman, director of the World Bank’s international trade department, told a seminar in Washington last week that the bank and others had overhyped the round. When it came to sharing blame, he said, “I can point to myself and my organisation.” The bank produced ambitious estimates of how Doha could boost economic growth and reduce poverty. “Those became a focal point for expectations, and expectations were overblown.”

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