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MARK AUSTIN THOMAS: Plenty of finger pointing today after the failure of the Doha Round of international trade talks on Monday. Among other things those talks were supposed to improve the economies of the world’s poorest countries. Marketplace’s Steve Tripoli tells us what some of the sticking points were.
STEVE TRIPOLI: Some trade experts say US and European intransigence on farm subsidies was a crucial stumbling block. India’s reluctance to open its markets was another factor.
Susan Sechler of the German Marshall Fund says the biggest losers are developing countries and especially Africa.
SUSAN SECHLER:“It’s really been shown time and time again that you need real growth for development and for raising up incomes. And that won’t be possible now.”
The collapse of the talks probably means richer countries will move toward bilateral trade deals among themselves, with agriculture subsidies off the table.
Ann Tutwiler of the William and Flora Hewlett Foundation says the poorest countries lose there too.
ANN TUTWILER:“So, they will have I think very little recourse to improve their lot at least through world markets.”
Tutwiler says there may be some attempt to resurrect these talks after the US Congress’ August break, after the November elections, or two elections from now when there’s a new US president.
I’m Steve Tripoli for Marketplace.
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