Word: trading
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Dates: during 1990-1999
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...media interviews President Clinton lives to regret once his term is over, few will rank as high as last week's conversation on trade with the Seattle Post Examiner. In a hotel-room conversation with the paper's Michael Paulson while anti-WTO demonstrations raged outside, Clinton casually suggested that the U.S. should ultimately impose sanctions on nations that violate a set of core labor standards...
...wage levels of U.S. and European workers. On the other hand, the developing countries say that U.S. practices are unfair--particularly those regarding intellectual property rights (which indeed deprive the poorest countries of drugs that are available only at monopoly prices protected by patents), and the use of trade barriers against products produced in low-wage countries (such as anti-dumping rules, set not by the WTO, but by the U.S. itself...
...continuing puzzle as to where to draw the line on what individual countries can choose to do, and what they should agree to set according to a single international standard. These issues need further debate, but we should take care not to let narrow interests manipulate or undermine open trade...
Jeffrey D. Sachs '76 is Galen L. Stone professor of international trade, and director of the center for international development...
...director-general of the World Trade Organization shares a name with a muckraking American filmmaker who loves nothing more than to expose corporate doings...