Trade Talks Head into Second Week

(28 July 08 - RV ) The United States slammed China and India saying they were threatening seven years of work on a new global commerce pact as crucial set talks at the World Trade Organization entered a second week.

Washington has criticized India for rejecting the package laid out by WTO chief Pascal Lamy, and China for backing out of terms it committed to last week.

India and China, with the support of the worlds poorer nations, are insisting on allowances to raise farm tariffs to combat rising food prices and protect national markets particularly on key products.

We spoke to Senior Research Fellow for Economics at the UK based research institute, Chatham House, Guy di Jonquieres who says it is “make or Break” for these talks.