WTO countries lower expectations for Doha

And, perhaps, they have raised the chances of success of past presidents, we have plenty of reasons to be concerned.

Time is of the essence. Negotiating countries want a deal by the end of this year, with the change in U.S. presidents as well as the European Commission executive, and elections in India next year.

The base of a deal is already in place:

The United States would cut its farm subsidies, blamed by poor countries for squeezing their farmers out of the market — a sensitive issue at time of food shortages in the developing world.

The European Union would open its protected market for food by cutting agricultural tariffs, giving developing country food exporters such as Brazil new opportunities.

And developing countries would cut their industrial tariffs, opening their markets to manufactures in rich countries.

Basically, a revised Doha would lower its sights on how much to accomplish this year, while locking a mechanism for further progress into some sort of place, albeit somewhat loose, to be sure.

With the “South”/undeveloped world holding newly inflated cards in things like biofuels, the North is getting shoved to the table more.