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After rounds of failed ministerial talks, it is time for top leaders of the major trading nations to weigh in to salvage the global trade talks, which are on the brink of collapse. When they meet in St. Petersburg for the G8 summit over the weekend, the leaders have a chance to show they are not indifferent to the Doha round and remain committed to the cause of free trade, the cornerstone of today's global economic system. Without a resolution from the leaders, it would be a miracle if the negotiators managed to wrap up the talks by the deadline at the year's end. US President George W. Bush and his European counterparts should be aware that they have a special responsibility to break this deadlock. The Western economic powers have been the main beneficiaries of the current international trading system. A successful Doha round would continue to benefit them as well as developing nations. Criticizing developing countries, China included, for not giving enough would just be another exercise in beating about the bush. The rifts seen today between richer and poorer nations on trade issues date back to the days before the launching of the Doha round. To show the world's solidarity after September 11, rich nations agreed to developing nations' demand about the framework of the Doha round. That paved the way for the launch of these trade talks. Although developed nations finally agreed to put issues such as agricultural trade barriers on the agenda of the talks, they have so far failed to show any intention to do anything serious about this. Difficulties for the US and some European negotiators to make concessions come mainly from rising anti-free trade sentiment in recent years in their countries, as well as pressure from elections which take place this year in some major trading nations. Facing such constraints, it was indeed difficult for the ministers to reach a deal. It will also be tough for the leaders. However, it will also be a chance for the leaders to display their vision, political wisdom and courage. After all, a deal would be a boon for the world economy as a whole, although it will not guarantee benefits for everyone. But a collapse is in no one's interests, as it would lead to a plethora of bilateral trade arrangements, which have already created a highly complex web bewildering businesses and putting weak nations at disadvantage. It could even pose a threat to the very existence of the World Trade Organization, which, with its clearly defined rules and dispute settlement mechanism, plays a crucial role in maintaining rule of law in world business. (China Daily July 14, 2006)
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