As things stand, with every deadline missed, the Mexico meeting is likely to achieve nothing positive and concrete, but will once again provide a sorry spectacle of the global ‘indecision-making process’.
The pathetic morass into which the negotiations have fallen represents another milestone in the general deterioration of global governance. Witness the recent G8 summit in Evian-les-Bains, France, as a vivid illustration of its eerie vacuity.
The road to Cancún, therefore, may well be the road that leads to the oblivion of the World Trade Organization (WTO) and the breakdown of the global economic order. This was founded on the letter and spirit of the post-war Bretton Woods agreements, which enshrined principles of rules-based multilateralism. Why is it happening?
