The Custom-House

Does globalization reduce poverty?

Ann Harrison of Berkeley has a new working paper on Globalization and Poverty (NBER, #12347, June 2006).  This is an introduction to a book she's editing.  Working versions of the chapters are here: Globalization and Poverty .  The papers were delivered at a conference in 2004.

Kaesong

The U.S. and So. Korea are working on a Free Trade Agreement (FTA).  The first round of negotiations was held in Washington in early June; the next begins July 10 in Seoul.  The potential economic and political benefits are attractive for both countries (Are there large potential benefits from a U.S.-S. Korea FTA? , June 18). 

Jeffrey J. Schott, Scott C. Bradford, and Thomas Moll  provide a useful overview of the issues in their recent report: Negotiating the Korea–United States Free Trade Agreement (Institute of International Economics, June 2006).

They point out that one of the key issues is a So.Korea joint venture with No. Korea in an industrial park at Kaesong in No. Korea.  This is an important project for the So. Koreans:

The Doha Round: What happens now?

Apparently, at least for now, it's all up to Pascal Lamy.  The International Centre for Trade and Sustainable Development published a special edition of its newsletter, "Bridges," today. 

Here's their report on the plan for July:

What happened in Geneva last week?

What happened in Geneva last week?  Here are some useful summaries.

This Crowell and Mohring "Doha Developments Update" for June 23 has a lot of detail on the preparations, and often optimistic speculation, just before the meeting.

Martin Khor looked at a possible scenario for the Geneva meeting, just before: "Sequencing the Ministerial" and Scenarios of the Stages it has to Clear (Third World Network, June 28.  I found this very helpful.

This morning, the Third World Network has several other reports on the progress of the ministerial:

• Mini-Ministerial not legitimate, says NGO letter to Ministers (Kanaga Raja, June 27)
• Concerns on process and on 'real trade flows' on eve of Ministerial (Martin Khor, June 28)
• Lamy outlines process for 'mini-Ministerial' this week (Kanaga Raja, June 28)
• As Ministerial starts, the question is "Who will move first?" (Martin Khor, June 29)
• Mini-Ministerial becomes "Waiting for America" (Martin, Khor, July 3)

These reports have far more concrete detail than most news stories.

The International Centre for Trade and Sustainable Development has a special issue of "Bridges" out this morning, with an overview of events.  The entire text is below the fold.

The most entertaining headline on a recent WTO story...

is "Time Running Out for Jargon-Riddled WTO," on a funny story by Bradley Klapper (AP via chron.com, June 27)."    For the best weblog post title about the WTO see Daniel Drezner's post on Klapper's story.

Alan Beattie explodes "the top five trade myths"

Alan Beattie explains The truth behind the top five trade myths and why it matters (Financial Times, July 1)

Myth number three:

Seriously decoupled subsidies

At least some U.S. farm subsidies are decoupled from production decisions.

Dan Morgan, Gilbert M. Gaul and Sarah Cohen report in this morning's Washington Post: Farm Program Pays $1.3 Billion to People Who Don't Farm:

Even though Donald R. Matthews put his sprawling new residence in the heart of rice country, he is no farmer. He is a 67-year-old asphalt contractor who wanted to build a dream house for his wife of 40 years.

Yet under a federal agriculture program approved by Congress, his 18-acre suburban lot receives about $1,300 in annual "direct payments," because years ago the land was used to grow rice.

Matthews is not alone. Nationwide, the federal government has paid at least $1.3 billion in subsidies for rice and other crops since 2000 to individuals who do no farming at all, according to an analysis of government records by The Washington Post....

Sunday: What next for Doha?

Where do the Doha Round negotiations go now, following yesterday's collapse of the meeting of WTO member trade ministers in Geneva?

Peter Mandelson, the E.U. Trade Commissioner, doesn't think we've reached the end of the Doha Round, yet (WTO talks neither "success or disaster" - Mandelson, Rueters via NDTV Profit.com, July 2):

Saturday: The Party is Over

The host went all out, but the guests had nothing to talk about, and everybody went home early.

Paul Blustein sums it up for Sunday's Washington Post: Trade Ministers Give Up on Compromise.  Geneva Conference Collapses Over Agricultural Tariffs and Subsidies. (July 2):