Doha Trade Deal Collapses

We reported back in December that, after twelve years, there had finally been an agreement in the World Trade Organisation (WTO) Doha round of talks.  The Bali deal was very limited in scope, and was primarily intended to help developing countries.  However, even this limited agreement has now unravelled.  In trying to finalise the terms, India has blocked it due to concerns over its subsidised grain stockpiling scheme.  It is not clear where things go from here.  The future of grand multi-lateral trade deals looks even more uncertain than before.  Increasing focus looks likely on bilateral pacts such as those being negotiated between the EU and the US and Mercosur.