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Food insecurity in the developing world killed the Doha round of trade talks today.

After 3 decades of pressure from trade negotiators, the World Bank, and the IMF to sacrifice local agriculture and accept imports of subsidized agricultural products from the developed world, and after repeated occurrences of food crises in developing nations that agreed, developing nations today killed the Doha Round of WTO negotiations over this issue.  The story  from Center for Economic and Policy Research ("CEPR") is here.  I provided some lurid background anecdotes in this earlier post

According to the CEPR release, the US industries that hoped to gain the most from the Doha round were pharmaceuticals, agriculture, telecommunications, and financial services.  Except for agriculture, it appears to me that "exports" from none of these industries would create or support substantial employment in the US.  Making the negotiations problematic from the US side were the facts that the President's Congressional authority to negotiate expired in June 2007 and the US was proposing reductions in US agricultural subsidies that were incompatible with the farm bill recently passed over Bush's veto. 

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