Skip to main content

World trade falls by lowest 12 percent since economic crisis

Director-General Pascal Lamy, in his report on the state of play in the Doha Round to the General Council on 22 February 2010, said that “although some progress is taking place, gaps remain”. He suggested that the stocktaking at the end of March be undertaken by senior officials, adding that “the Geneva process remains ready to translate political movement into concrete and substantive progress”.

WORLD TRADE WEAKENS

World trade fell by 12 percent last year as the economic crisis caused the biggest drop since 1945, giving new urgency to the need to conclude trade talks, WTO chief Pascal Lamy said Wednesday.

Lamy said the worst contraction in more than 60 years made it "economically imperative to conclude" the Doha Round of global trade talks, which started in 2001 and remained deadlocked after nine years of negotiations due to lingering disagreements between developed and developing countries on market access for agricultural and industrial goods.

world trade global markets lamy

The unprecedented reduction in global commerce makes it "economically imperative to conclude" international trade negotiations, which are at a standstill, in 2010, Lamy said.

ECONOMIC DATA SHOW WORLD TRADE HAS WEAKENED SO FAR IN 2010

" World trade was reduced by 12 percent in 2009," he told the European Policy Centre, a Brussels think tank.It was the "sharpest decline" since the end of the World War II, he said, and worse than the 10 percent fall that the WTO had forecast in December.The Doha Round of trade negotiations began in 2001 with a focus on dismantling obstacles to trade for poor nations, by aiming for a deal that would cut agriculture subsidies and tariffs on industrial goods.

Deadlines to conclude the talks have been repeatedly missed.

Discussions have been dogged by disagreements, including on how much the United States and the European Union should reduce farm aid and the extent to which developing countries such as India and China should. The WTO chief said on Monday that it was too early for trade ministers to meet at the end of March on a new push for the Doha Round, dampening hope that the trade talks could be concluded by the year end as promised by world leaders.

Popular posts from this blog

Best Australian stock forums online ( finance forums)

Many traders and investors use forums to share ideas, learn from the more experienced, or simply to stave off boredom during long hours at the computer. Here we list the known universe of forums, complete with costs, member numbers, extra benefits and popular forum topics. Please post a message on Your 2 Cents if your favourite forum isn't listed here, or if you feel that there's more to add about the day-to-day goings on in your online community.Forum
Cost
Stock comps
Forum areas
Comments
AussieStockForums.comFreeASX by share code, General, Beginners, Derivatives, Commodities, International, Strategies/SystemsEasy to use, independent forum. Aussie Stock Forums has a group of very active and knowledgeable traders. Private messaging available. Australian forum.
Chimes in ExileFreeASX stocks, fundamental analysis, technical analysis, commodities, economics, investment tools The forum has a small group of regular contributors that form a genuine community of investor…

The diggers and dealers forum meet 2011

The diggers and dealers forum has just begun August 1. Its a three day annual event happening every year  at the WA country town of kalgoorlie.2011 Diggers & Dealers forumBig name brokers  keenly watching the event will be MacquarieDeutsche BankBell PotterGoldman SachsRBS MorgansEvans & PartnersHartleysBlack Swan Euroz.Well most other websites will give you the  finer details of the annual meet and greet that happens at kalgoorlie , so we will just stick with the bare minimum of details  and focus on the more enjoyable bits  of information that the dealers require to strike a good deal while in town.Bare detailsWebsite : Diggers & DealersEvents : Program and scheduleWatering holes and entertainment at Diggers and dealers forumPubs , clubs  and skimpy (barmaids) culture in kalgoorlie . There are about 25 pubs in Kalgoorlie-Boulder area and for a city that stretches just 67sq km the number of pubs makes for  a good choice on drinking holesand entertainmentExchange Hotel ( Pa…

Stock market and High frequency trading

High frequency and computerised trading androgue trading is again  in the news with  trader Mr Adoboli working for UBS  who was arrested at his desk, is alleged to have lost £1.3 billion through his rogue trades  according to the company , now also annoucing that they might go into a loss in this quarter. According to some reports in the media it was said that Mr Adoboli Himself had reported the  trade when the trade went bad before the computers picked up the loss.
Not so long ago in 2008 Jérôme Kerviel, the Paris-based Société Générale trader lost £4 billion in rogue trades, but fought it out in court contesting that the trading firm knew about his trades with large amounts.

High frequency computerised trading in Australia HFT drives the wild swings in global markets and in co-relation influences the local assets, the intensity is expected to rise with online exchange Chi-X to  begin operating in Australia soon with a limited number of stocks in November. The ASX will launch its Pur…