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However, some have indicated that the demise of the Cancun meeting (and the almost inevitable demise of the Doha Round of negotiations) may herald the death of the WTO itself, who European Commission President Romano Prodi referred to as a “medieval” institution in light of the Cancun meeting . The resulting effects could end up being more damaging for the world economy as whole. The United States in particular has bluntly indicated its willingness to “go it alone”, and will continue to pursue bi-lateral and regional agreements with other nations as opposed to global arrangements. Invariably, this will be of much less benefit than a multi-lateral agreement for members of the G-23 and the developing world as a whole. Indeed, the results of the Cancun talks may even result in punitive trade measures by the United States. One American Senator, Charles Grassy, stated:

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Freer trade undoubtedly has benefits to all nations. The next round of discussions, which is expected to occur some time over the next year in Hong Kong (and thus before the expiration of the “Doha round” of negotiations) could potentially bring the discussions back on track. However, the pessimism that prevails in many first world nations as a result of the Cancun talks may inhibit any sincere attempt at reformation. The strength of public opinion that the G-23 can rely upon in their own countries as they defy rich countries will only reinforce their resolve to come to an agreement that they can realistically view as advantageous for themselves. Whether an agreement can be reached during the Doha round remains unclear. However, it is plain to all that failure to come to some form of understanding is far more damaging to citizens of the third world than those of the first. Hopefully, the opposing positions are not too firmly entrenched that consensus is impossible before the next round of talks even begin.


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Established on January 1, 1995, the World Trade Organization (WTO) is now the umbrella organization of the General Agreement on Tariffs and Trade …

While the term "forecasting" may appear to be rather technical, planning for the future is a critical aspect of managing any organization;business, nonprofit, or other.