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TRADE WARS
WTO failure bodes ill for climate change: delegates

by Staff Writers
 Geneva (AFP) July 29, 2008
 The failure of key powers to agree a new pact on global trade does not bode well for international cooperation in other areas such as climate change, top delegates warned Tuesday.

The European Union's agriculture commissioner Mariann Fischer-Boel told journalists that the collapse of talks after nine days at the World Trade Organization headquarters in Geneva would have "wider consequences than we have ever seen before".

"If we cannot even manage trade, how should we then find ourselves in a position to manage the new challenges lying ahead of us" such as climate change, Fischer-Boel said.

Her point was echoed by Australian Trade Minister Simon Crean, who said that success here in Geneva would have been an "important signal" ahead of new international negotiations on climate change that are set to start next year.

The EU earlier this year pledged to reduce its greenhouse-gas pollution by 20 percent by 2020 compared with a benchmark year of 1990.

Hoping to spur the United States, Japan and Canada, the EU promised to deepen this to 30 percent if other rich economies followed suit.

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TRADE WARS
US business groups blame China, India for WTO talks collapse
 Washington (AFP) July 29, 2008
 US business groups on Tuesday blamed China and India for the collapse of the WTO's Doha Round of trade negotiations, saying it was a blow to the world economy and the poor.






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