With reports describing the impending failure of the December 13 to December 18 World Trade Organization (WTO) Ministerial Meeting in Hong Kong appearing in the corporate press, Focus on the Global South has published new examinations of the draft ministerial texts and has found them to offer nothing to developing nations. The “empty” development package being offered has been described as “a recipe for creating industrial graveyards, destroying small farmers’ livelihoods and their production capacity, and decimating local services suppliers” and that will result in “widespread unemployment.” Despite the threats to developing countries in the draft texts, particularly with regard to the liberalization of services sought by the G8 countries, there is still only agreement between member organizations on about 10% of issues up for negotiation according to Walden Bello of Focus on the Global South. The stakes for developing countries are high and with a significant mobilization against the WTO on the streets outside the meetings it is quite likely that no new progress will be made, and in fact, the WTO may be permanently derailed.
Related posts:
- Brazil and India Paved the Way for a Deal at WTO Meeting in Hong Kong
- WTO Ministerial Declaration Called a “Slap in the Face” for Developing Countries
- Protests begin at Opening of WTO Summit in Hong Kong
- Hong Kong WTO Summit Headed for Failure?
- WTO Meeting Next Week amid Rising Criticism and Internal Divisions
