Word: trading
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Dates: during 1990-1999
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...meeting, led by India, Egypt and Brazil, were incensed that Clinton told the paper he wanted a working group on labor to be established within the WTO to develop "core" standards for wages, working conditions and other labor issues, and that such standards should be part of every trade agreement. Ultimately, he said, they should be enforced through trade sanctions, the WTO's ultimate weapon...
...Clinton insisted on the issue, developing countries could "walk away from any agreement on a new round" of talks. To them, Clinton's words were nothing but protectionism wrapped in progressivism. But that position happens to be the one taken by the AFL-CIO. Unhappy about the White House trade deal to admit China to the WTO--an agreement that labor is now better armed to fight in Congress--the unions had pressed Clinton to push their case on labor rules in Seattle...
...late Friday night, negotiations to get agreement on an agenda for a new round of global-trade negotiations collapsed. Exhausted WTO delegates said they would try again next year in Geneva to bridge huge differences...
Public attention will eventually shift from the mayhem of last week, but a new political sensitivity may endure--one that gives unionists, environmentalists and others a platform for concerns heretofore ignored by the WTO bureaucrats and elected representatives alike. "In America trade policy has been conducted by elites inside the Washington Beltway," explains Craig Johnstone, senior vice president of the U.S. Chamber of Commerce. "Now the issue is very visibly moving out into the streets. Those who want to promote trade are going to have to make their case much more vigorously to all the American people...
...pretty compelling case. And if they can make it with anywhere near the vigor that was demonstrated by the antis last week in Seattle, free trade...