- started in Doha, Qatar in 2001 and moved to Geneva, Switzerland
- in agriculture, a group of 20 LDC's led by Brazil, China, and India has called for a termination of EU and U.S. agricultural export subsidies and for lower agricultural import barriers in Japan and Canada. Developed countries wanted reduced LDC barriers to nonagricultural imports and allow negotiations on "the Singapore issues" (i.e. trade and investment, competition policy, government procurement, and trade facilitation)
- In July 2008, the talks broke down without an agreement. LDCs that have substantial trade protection in manufactured goods and services, refused to reduce protection without an agreement by developed countries to reduce the high subsidies they give to farmers. because the farm lobbies in developed countries are politically powerful groups, these countries are not willing to make sufficient concessions
-A fixed, or pegged, rate is a rate the government (central bank) sets and maintains as the official exchange rate. A set price will be determined against a major world currency (usually the U.S. dollar, but also other major currencies such as the euro, the yen or a basket of currencies). In order to maintain the local exchange rate, the central bank buys and sells its own currency on the foreign exchange market in return for the currency to which it is pegged.
-Unlike the fixed rate, a floating exchange rate is determined by the private market through supply and demand. A floating rate is often termed "self-correcting," as any differences in supply and demand will automatically be corrected in the market. Look at this simplified model: if demand for a currency is low, its value will decrease, thus making imported goods more expensive and stimulating demand for local goods and services. This in turn will generate more jobs, causing an auto-correction in the market. A floating exchange rate is constantly changing.
emphasis is placed on producing manufactured goods that can be sold in international markets (East Asian economies: Japan, Hong Kong, Taiwan, South Korea, Singapore, Malaysia, Thailand, Indonesia).
-High export and import volumes and selective import liberalization.
-Stable macroeconomic environment (low inflation, competitive exchange rates promoting exports, conservative fiscal policies (borrowed little), high rates of saving and investment).
organization established in January 1949 to facilitate and coordinate the economic development of the eastern European countries belonging to the Soviet bloc. Its original members were the Soviet Union, Bulgaria, Czechoslovakia, Hungary, Poland, and Romania. Many other countries proceeded to gain membership over the years. However, after the democratic revolutions in eastern Europe in 1989, the organization largely lost its purpose and power, and changes in policies and name in 1990-91 reflected the disintegration. It was formed under the aegis of the Soviet Union in 1949 in response to the formation of the Committee of European Economic Cooperation in western Europe in 1948. Between 1949 and 1953, however, Comecon's activities were restricted chiefly to the registration of bilateral trade and credit agreements among member countries. After 1953 the Soviet Union and Comecon began to promote industrial specialization among the member countries and thus reduce "parallelism" (redundant industrial production) in the economies of eastern Europe. In the late 1950s, after the formation of the European Economic Community in western Europe, Comecon undertook more systematic and intense efforts along these lines, though with only limited success.