From:http://www.chinatopsupplier.com/Tag:China,WTO,trade talks,compromise on a proposal restricting China was included in a group of seven key WTO members who attempted to reach a compromise on the talks seeking a breakthrough in the WTO's Doha round, reflecting China's growing importance in the world economy. The "tragic failure" of global trade talks is a serious setback to the troubled world economy, Chinese Commerce Minister Chen Deming said. "In the face of a world economic downturn, serious inflation and imminent financial risks, the failure will have a major impact on the fragile multilateral trading system," Chen told fellow ministers at the trade talks. Chen expressed his regret that the talks had broken down over differences between two countries -- a reference to the United States and India -- over a proposal to help poor farmers cope with import surges, despite flexibility by China on a range of trade areas, according to a statement. China had shown willingness to compromise on a proposal restricting developing countries' ability to shield entire industrial sectors from lower tariff cuts. It had indicated its willingess to liberalise some services sectors, he said. China was ready to intensify its bilateral links with other World Trade Organisation (WTO) members, especially ...
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