Here’s a happy little tune from the trade Ministers of Brazil, China, India, South Africa. Issued from the Mountain Tops of Davos:
“In particular, the Ministers noted that, under the existing draft modalities [dating to Dec. 2008 —PWG], developing countries would be required to offer a level of contribution without precedent by any Member in any of the previous negotiating rounds. The ministers also agreed that such contributions are not being reciprocated by developed countries, some of whom [USA, EU, Canada, Australia, NZ – PWG] still seek further exceptions and flexibilities to continue with their existing trade barriers and trade distorting policies, adversely affecting the developing countries’ interests.” Extract from Brazil Foreign Ministry Press Service
What’s it called? Wait…don’t tell me. I’m sure I’ve heard it before.