Read Kevin Drum's take on the stalled Doha talks for a very succinct summing up. Sample:
"Trade talks aren't quite that bad. But they're close. The Doha round in particular lives or dies based on the willingness of rich nations to substantially reduce tariffs and subsidies on agricultural products, and seriously, what are the odds of that? We can't even have a serious discussion about reducing subsidies on corn ethanol, possibly the stupidest use of taxpayer dollars in the past century, let alone reducing farm support payments to ConAgra and Archer Daniels Midland. Meanwhile, the European attitude toward farming makes ours look positively levelheaded and beneficient. Paris would probably go up in flames if EU farm payments were ever rationalized."