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Doha Had No Dough

Photos from the Women's March on the WTO Protests; Hong ...The WTO has failed developing nations
Aurelie Walker, The Guardian, 2011

In the 10 years since the WTO pledged to deliver pro-development changes, developing countries have been completely sidelined by the global powers

Ten years ago, a new World Trade Organisation that put developing country needs at the centre of the international trade negotiation agenda was proposed. The Ministerial Declaration adopted at the start of the Doha Development Round of trade negotiations, on 14 November 2001, was a promising response to the anti-globalisation riots of the 1990s.

But the WTO membership has failed to deliver the promised pro-development changes. Finding “development” in the Doha Development Round today is like looking for a needle in a haystack. Developing countries have been completely sidelined by the economic and political interests of global powers. Continue Reading »

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'Rank Hypocrisy': WTO Deal Bows to Wealth, Squashes the PoorWTO fails the poorest – again
By Ruth Bergan, 2011

World Trade Organisation fails in the Doha trade talks to deliver even a minimal package to benefit the least developed countries

Trade ministers have long insisted that the World Trade Organisaton (WTO) Doha negotiations are a vital part of the response to the global emergencies in the economy, food, climate and employment. Yet we learned this week that a lack of political will has rendered the WTO incapable of agreeing even a minimal package for the least developed countries.

It became clear in late April – the 10th year of negotiations – that WTO members would not manage to agree a full Doha deal. In May the director general, Pascal Lamy, announced a proposed “early harvest” package comprising four measures aimed at benefitting least developed countries. Continue Reading »

WTO Special Page, witiger.comReal battle for Seattle
By John Vidal, The Guardian, 1999

‘This is what democracy looks like,’ chanted protesters as they confronted armies of police firing tear gas canisters and plastic bullets.

The globalisation debate

‘Shame, shame, shame on you,’ chanted the protesters beyond the lines of Darth Vader-style police, the armoured cars, the horsemen, the National Guard and the dogs. The tear gas was heavy on the air, the police were now firing plastic bullets into the weeping crowd and the Ministerial Round of the Seattle world trade talks was in crisis.

The opening ceremony had just been cancelled because delegates were being corralled in their hotel suites. Even the combative US trade representative Charlene Barshefsky was unable to attend.

On the front line of the protest a small debate was taking place. Two African delegates were trying to get through the lines of protesters. Continue Reading »

Anti-Globalization Movement Essays-Battle in Seattle | In ...WTO Protests in Seattle
By Anup Shah, Global Issues, 1999

At the end of November 1999, Seattle saw major governments meet at a WTO ministerial meeting to discuss various trading rules. Seattle also saw free speech cracked down on in the name of free trade. Enormous public protests ensued. There were many differences in the perspectives of developing and industrialized nations on the current reality of free trade and how it affected them. It resulted in a WTO failure to agree on many issues, without adopting any resolutions. Developing countries were sidelined and one delegate even physically barred from a meeting, according to the previous link.

Media Portrayal

Once more, the mainstream media coverage in the US about such a major event was very much lacking. It was pretty much corporate led and therefore concentrating on the sensationalism of the violent aspects Continue Reading »

4 GATT to 6 WTO

GATT vs WTODifference Between GATT and WTO

What is GATT?

The GATT is the General Agreement on Tariffs and Trade. It was created in 1948 with the aim of bolstering international trade by reducing trade barriers between countries through negotiations.

The GATT was established under the International Trade Organization (ITO) under the aegis of the UN. However, the ITO got sidelined as the US refused to ratify it. The last round of GATT was held in Uruguay in 1993.

The GATT started with 23 members, and was was instrumental in associating over one hundred more members till it got renamed WTO. Though there were rules in the GATT for resolution of disputes, it did not have enforcement power.

What is WTO?

Continue Reading »

Conputer Bank

Android, iPhone Mobile Banking App on the go

How To Bolster Banking Technology Infrastructure and Address Cyber Risks
By S.K. Selvaraj, Tripwire, Apr 25, 2016 [Excerpt]

Technology infrastructure (TI) at banks involves a dizzying array of things – from employee laptops and desktops, software applications, and hosting networks to networking and cabling linking offices around the world, Internet of Things (IoT) devices, sophisticated enterprise tools, data centers… and so on.

Just as a country needs its critical infrastructure for economic growth, TI forms the backbone for the financial industry. TI used to be behind the scene for many decades and catered to important tasks, such as storing financial data in mainframes.

However, it then became an enabler of business with rapid growth in communication bandwidth, networking and software products. With the advent of internet followed by the mobile revolution, infrastructure became even more prominent as it became part of consumers’ daily life. Continue Reading »

Iran, Oil and Strait of HormuzAttacking Iran –
By ING, 2007 [Edited]

The market impact of a surprise Israeli strike on its nuclear facilities

The financial markets are assuming that an Israeli or US attack on Iran is unlikely. However, an imminent build-up of US forces in the Gulf suggest that they could be in for a shock.

An imminent attack would seem unlikely, given the weakness of the US administrations, and hopes for regime change in Iran. However, Iran’s threats that it will acquire nuclear weapons within two years, suggest that President Bush may sanction action before he leaves office at the end of 2008. And, within a month the US will have two aircraft carrier battle groups and a new expeditionary Marine strike force in the Persian Gulf, which might provide a shield for an Israeli bombing of Iran’s facilities. Continue Reading »