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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: sciAticA errAticA	7/3/2006 9:29:55 AM
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WTO talks collapse Jul 02, 2006 hindu.com Geneva: The World Trade Organisation talks collapsed here on Saturday as Trade Ministers of 60 key countries failed to arrive at a common ground on agriculture and industrial tariffs with an upset Commerce Minister Kamal Nath stating that he saw ``no negotiating space.'' Industrialised nations blamed Blaming the industrialised nations for the talks fizzling out, he said: ``There is no need to pretend that this has not been a failure... I am willing to negotiate commerce but subsistence, livelihood and security I will not be willing to negotiate." He left for home two days ahead of schedule. No flexibility: Lamy WTO Director General Pascal Lamy said the Trade Ministers were refusing to show any flexibility and engage in negotiations to cut farm subsidies and tariffs on industrial goods. But developing countries were united and over 100 countries formed a front to defend the development thrust of this round of trade talks, originally scheduled to be ended by December. ``I came here to see what our farmers can get and not what they can give. If developed countries were looking for market access that destabilises our infant industry, I cannot accept that,'' Mr. Nath said. He said he had discussed with G-90 the developing countries not getting negotiating space. ``So 110 [developing] countries are supporting what we are saying,'' he added. — PTI ---------- ---------- ... the new global equation is ALL about resources ... the tangible ones -- not the paper ones...

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