Power And Dollar

This fatal beating can stage the next round of assaults between McCain and Obama regarding free trade.  The interesting news about free trade actually did not get reported in American media, although it may fuel the debate well.  The Doha round of WTO negotiation just failed.  A failed negotiation will affect American economy just as much as a successful one.  Here is a synopsis of the effects:

Winners:

Farmers in developed countries who receive exporting subsidies: America, EU, Japan, Suitland.  Subsidies to farmers will continue to be in place, ie McCain. 

Developing countries’ manufacturers who are defending their domestic markets, esp. China and India.

ASEAN and other inter-government market coordinating organizations.

Cotton producing states, ie McCain.

Losers:

Agriculture exporters who planned to export to China, India, US and other developed countries as well as developing countries: Brazil, Canada, Australlia

Most industries in under developed countries who planned to export to developed countries and emerging markets.  

Manufacturing industries that expect to enter India and Brazil markets: most industries in US, EU and China.

Telecom, banking (Citi) and insurance (AIG, Sunlife, Manulife) industries from the developed countries (America, EU, Japan) that wish to enter developing counties.

Cotton producing countries expected to enter US market, such as Mali, Chad.

Obama can still make it an anti-Bush issue since it highlights the inability of Bush to compromise with others.