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Unformatted text preview: global public goods : funding energy-infras truc ture and c lim atec hange projec ts are two exam ples , agric ulture another. A b it t o o e q u a l W hile the bank and the fund are s teered by their bigges t s hareholders , the W TO, though
relying on a repres entative c auc us of s tates to ham m er out deals , belongs to all its
m em bers : India and Braz il, for exam ple, are at the heart of the Doha round of trade talks .
But egalitarianis m c an be a weaknes s as well as a s trength.
Muc h adm ired, at leas t by governm ent lawyers , are the 60,000 pages of juris prudenc e that
govern the workings of the W TO dis pute m ec hanis m , whic h has helped res olve m any a
trade s pat. The W TO ens ures that m em bers do not dis c rim inate am ong eac h other—the
bes t deal they offer to anyone m us t be extended to everyone. This has helped level the
playing field and expand world trade. Rus s ia's is the only large ec onom y s till outs ide the
W TO, and that is its c hoic e.
Yet thos e wanting to join m us t s trike deals with eac h of the exis ting m em bers —now a
daunting 152. Operating by c ons ens us m eans that the Doha “developm ent” round has
bogged down in dis putes between developed and developing c ountries over c om plex,
rec iproc al c uts in farm s ubs idies and tariff barriers . The pros pec ts for m oving on to s ervic es
look dim . Slow progres s has helped pus h m any to forge bilateral or regional deals ins tead.
And if the Doha round fails c om pletely, the rec rim inations c ould run far and wide—
threatening any attem pt, for exam ple, to get agreem ent between the developed and
developing world on new m ec hanis m s to deal with c lim ate c hange.
www.economist.com/node/11664289 4/9 1/14/14 Who r uns the wor ld?: Wr estling for influence | The Economist Ec onom ic and financ ial power is to s om e extent up for bids by governm ents with a s take in
the gam e, and trade rules are (arduous ly) negotiable. Yet the dis tribution of politic al power
has proved s tubbornly—debilitatingly—res is tant to c hange.
Mos t bit...
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This homework help was uploaded on 04/02/2014 for the course POLS 4430 taught by Professor Staff during the Summer '08 term at Kennesaw.
- Summer '08