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World Trade Organization: United States
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The World Trade Organisation (WTO) has established a dispute panel to judge Australia’s challenge to European laws on food labelling. Australia and the United States are testing the right of the European Union to control geographic names for foods. The WTO has established a single panel to hear the challenge by Australia and the United States to Europe’s right to register and protect geographic names for cheese, beer, wool, processed meat, fruit and cork.
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The European Union's chief negotiator, Trade Commissioner Pascal Lamy, said major gaps remained between the 15-nation EU and the United States, the world's most important trading powers. They must bury their differences if a new round is to be launched at the conference, scheduled to end late on Friday.
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The office of the United States Trade Representative is filing two complaints with the World Trade Organization against China today, and Nintendo is totally going along for the ride. From a press release issued by the company this morning:
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The notion of a world trade organization is not a new one. Indeed, the architects of the postwar Bretton Woods system initially proposed the creation of an International Trade Organization (ITO) to address issues as wide ranging as restrictive domestic business practices, commodity agreements, labor standards, and international investment rules.2 The charter for this organization was never approved by the U.S. Congress and ... the proposal failed. The global trade community resorted instead to ratification of the GATT a minimalist treaty covering the nuts and bolts of trade such as tariffs, subsidies, quantitative restrictions, antidumping, and state trading.
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Regulation of world trade is beyond the control of any one nation. Moreover, Western capitalism is losing its influence in trade negotiations. Policy makers must be alerted to these changes and adjust to them creatively. Fischer argues that the United States needs allies in the new era of world trade, that the private sector is increasingly influential in driving the world trade agenda, and that trade globalization creates a new paradigm that supplants traditional national competition.
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One of the most spirited civilian protests in the United States since the 1960s has disrupted the global trade talks, turned Seattle into more of an armed camp than a Starbucks Inc., and beamed an antitrade message around the world. But beneath the tear gas and nightstick imagery lurks a fundamental question: In the end, will any of it make a difference? The short answer is probably no. The subject of the protesters' displeasure, the World Trade Organization, will continue to meet through the week to set a trade-liberalization agenda for the next millennium. (12.2.99) From the Christian Science Monitor.
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