In revving up for next week's planned WTO trade liberation talks (opening Monday in Geneva), US trade officials stated this past Thursday that China will critcally impact the direction and outcome of these talks, voicing concerns that China has a “particular obligation” to make concessions on matters of trade. One issue of particular importance is the benefit China has reaped from opening their trade system, which US Trade Rep Susan Schwab estimates at “hundreds of billions of dollars.” She went on to prescribe that China fulfill its obligation to “give back to the Doha Round“
Because of the weight it carries in the global trade arena, international players are really looking for China to “step up and play a leadership role,” which means planning for actions that will offset deepening economic disparities.
In Geneva, 30 countries will convene to pick up the pieces of the flailing Doha Round, which was launched several years ago in the Qatari capital. Shortly after this launch, China experienced a sharp rise in its exports. “Without [China's] contribution it is impossible to imagine a successful conclusion to the Doha Round,” Schwab says. Her estimation of the situation is described as “cautiously optimistic,” focusing on “good conversations” the US has recently had with Chinese officials. Still, the US is hopeful that China understands the gravity of the Doha Round's need for its willingness to be a good team player.
“I think a deal is eminently doable … it is doable next week.” Stay tuned for new developments coming soon.
