WORLD TRADE AND CANCUN SUMMIT

Authors : Hayri Kozanoğlu

Pages : 191-196

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Publication Date : 2005-01-10

Article Type : Review

Abstract :The world trade summit held in Cancun collapsed. The Failure in Mexico means blow to the multilateral trade System that has beeıı contributing to global wealth. The future of WTO after defeats in Seattle and Cancun is seriously in danger. The only positive development in the meeting might be the birth of the G-21 initiative led by Brazil, China, and India. Now, G-21 has a chance of challenging the US, EU, and Japan as one voice. They must overcome the lack of expertise in future meetiııgs with a good cooperation. In world trade, if multilateral cooperation ceases to existent, everybody would lose but the ones who would lose the most would be poor couııtries. Cancun’s failure did not make this sceııario iııevitable but possible. The problem lies there.
Keywords : World Trade, WTO, G-21 initiative