The outlook on Geneva may be as uncertain as ever but India’s contribution in restarting the talks has won praise from a select group of finance ministers and central bank governors who met in London ahead of a proposed meet of G20 countries in Pittsburgh later this month.
There is little doubt that the outcome of the ongoing trade talks at Geneva will be closely monitored at the G20 meet. An earlier G20 meet had hoped that a successful wrap up of the Doha Round would lift the global economy from the deep recession.
Although every Doha Round ministerial meet seemed to be a high-stakes game, with a failure leading to its abandonment altogether, the present moment may be propitious.
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There are signs of recovery all-round. However, in the U.S., recovery has not so far helped in reducing the figures of unemployment. A further increase in unemployment may raise protectionist threats and derail the Doha talks.