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Article: Trade Talks.(News)
- Article from:
- The Mercury (South Africa)
- Article date:
- July 25, 2006
CopyrightCOPYRIGHT 2006 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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If world trade talks break down, the global economy will be at least $96 billion (R672 billion) poorer. This is the value the World Bank attaches to the benefits that would flow from a successful conclusion of the Doha round of trade talks, which have been suspended by World Trade Organisation Director-General Pascal Lamy.
Trade barriers come broadly in two shapes.
One: import barriers add costs to the supply chain that the consumer must pay in the end. And the additional costs are not only imposed on imported goods. Protected by tariffs, domestic manufacturers are free to benchmark their prices to those of imported goods. So consumers pay more for all ...