Global multilateral trade talks have stalled. The latest phase of negotiations—the Doha Round—was initiated in 2001 and yet there is no end in sight. According to Pascal Lamy, the director general of the World Trade Organization, an agreement on Doha by the end of the year is unlikely, even though a deal would provide a boost to the global economy. In contrast, there has been a proliferation of negotiations on super regional preferential trade agreements, such as the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership (ASEAN+6), and the US-EU free trade agreement (TTIP).
Is the world fragmenting into competing trading blocs? How would these agreements impact regions excluded from negotiations, such as Africa? What are the wider implications of the current developments for global trade and the global economy? Jagdish Bhagwati discusses the future of global trade.
Recorded live Monday, May 6, 2013 at the Union League Club of Chicago.