Doha Debacle: What's Next for Global Commerce

Progress toward unfettered international commerce stumbled last week with the collapse of the World Trade Organization's Doha talks, a seven-year effort to establish new global trade rules. The lengthy talks were complicated by the rapid emergence of China and India as major economic powers -- powers with commercial and strategic interests to protect, and the clout to do so. Many observers say the talks' collapse is a setback for poorer nations, which need access to larger markets in order for their economies to grow. Wharton professors Stephen Kobrin, whose research interests include globalization, and Marshall Meyer, an authority on China's economy, recently spoke to Knowledge@Wharton about the talks' collapse, global commerce and China's interest in the rules governing trade.

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• knowledgeatwharton
• doha
• global
• commerce
• wto
• world
• trade
• organization
• rules
• Chian
• India
• stephen
• kobrin
• marshall
• meyer

[AmericaAndAllies]

"support", "re-training", "temporary employment" are not solutions for pitting 1st world nations in direct competition with the 3rd world workers who earn penny wages.

If you are willing to accept a reduced standard of living, embrace "globalism".

If you see globalism as nothing more than unfettered access to cheap labor, in effect a race to the bottom, you better fight like hell.

The economic tsunami is coming. Are you going to stand on the beach watching the water recede in wonder?