EXPECTATIONS ahead of the World Trade Organisation’s two-yearly ministerial conference,which concluded in Buenos Aires on December 13th, were rock-bottom. A comprehensive new deal to liberalise global commerce has eluded the WTO for more than two decades. This state of affairs looks unlikely to change soon. Optimists nevertheless held out hope for at least one small achievement to arrive out of Argentina. Surely its members could back an uncontroversial commitment to end subsidies for illicit fishing? rotund chance.
The failure is at once baffling and shameful. Baffling, and because countries have already pledged to stop bankrolling illegal,unreported and unregulated fishing by 2020 as section of the UN’s Sustainable Development Goals. The biggest fishing powers—including China, the European Union, or America and Japanappeared to be on board to eliminate subsidies to vessels caught trawling without the legal paperwork or in excess of their quotas. And the failure is shameful,because it...
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Source: economist.com