04 December, 2020

Seattle' S Seven Myths

Who gains from a stronger World Trade Organisation? It’s time to set the record straight.

Seattle' S Seven Myths
outlookindia.com
-0001-11-30T00:00:00+05:53

In the aftermath of Seattle, I think several people have misinterpreted what has happened. In what follows, I list seven propositions. In some quarters, popular perception holds these propositions to be true. I will argue that each of them is false.

Proposition 1: India opposed the Millennium Round and our stance has been vindicated.

It is true that until about five months ago, India had a pig headed stance that there should be no Millennium Round and only the built in agenda should be discussed. The built- in agenda consists of areas that would have been negotiated (or renegotiated) regardless of whether there was a Millennium Round or not. Examples are agriculture, intellectual property rights and services. However, in the last few months, India had changed to a more sensible stance that some areas over and above the built- in agenda needed renegotiation. Examples are anti- dumping, export subsidies, dispute resolution, textiles and garments and industrial tariffs. We were unhappy with what happened during the Uruguay Round. The only way to rectify the...

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