Some critics rushed in to declare that the "Doha round" of trade talks was dead - and that they had already said so years ago. Presumably, our attempt at resurrecting it was pathetic and hopeless. But if Doha was dead, one had to ask why the negotiators were still negotiating, and why nearly all the Group of 20 leading and emerging economies were still issuing endorsements of the talks each time they met.
In the words of former US trade representative Susan Schwab, writing on the ForeignAffairs.com website, the Doha talks were "doomed" and ready for burial. However, critics thought that one could pick at the corpse and salvage "Plan B", though what was proposed in its many variants - always some minor fraction of the negotiated package to date - should more accurately be called Plan Z.
It sounded like a great idea: better something than nothing. But in multi-faceted talks that straddle several different sectors (for example, agriculture, manufactures and services) and diverse rules (such as anti-dumping and subsidies), countries have negotiated concessions with one another in various areas. Whatever balance of concessions has been achieved would unravel if we were to try to keep one set and let go of another.
As Stuart Harbinson, a former special adviser to Pascal Lamy, the director general of the World Trade Organization (WTO), has pointed out, the haggling over what should go into Plan B would be as animated and difficult as the haggling over how to complete the entire Doha package.
Some of the critics are factually ill-informed. The Bhagwati-Sutherland Report amply documents that much has already been agreed upon in all the major areas. As Mr Lamy has put it, nearly 80 per cent of the curry is ready; we need only additional spices from the major players - India, the EU, the US, Brazil and China. These can be provided in politically palatable ways, which also means that the conclusion of Doha is within our reach, not beyond our grasp.
But why bother to continue trying? If Doha fails, some say, life will go on. That is true, of course, but that doesn't make this view any less naive.
If the Doha round fails, trade liberalisation would shift from the WTO to preferential trade agreements (PTAs), which are already spreading like an epidemic. But if PTAs were the only game in town, the implicit constraint on trade barriers against third countries provided by the WTO's Article 24, which is weak but real, would disappear altogether. The WTO stands on two legs: non-discriminatory trade liberalisation and uniform rule-making and enforcement. With the former eliminated, the most important institution of global free trade would be crippled.
This would also affect the leg that survived, because the PTAs would also increasingly take over the functions of rule-making. This already can be seen in PTAs, whose rules on conventional issues such as anti-dumping are often discriminatory in favour of members.
It is also reflected in the increasing number of non-trade-related provisions being inserted into the PTA treaties proposed by the US and EU. These are a result of self-serving lobbies that seek concessions by weaker trading partners, without which free trade supposedly would amount to "unfair trade". These rules are then advertised as "avant garde", implying that the PTAs are the "vanguard" of new rules.
As a result, the willingness of WTO members to invoke the dispute settlement mechanism, the pride of the WTO - and, indeed, of international governance - would also be sapped. Tribunals established within PTAs would take over the business, leading to the atrophy, and eventual irrelevance, of the DSM.
We can live without the Doha round, but for many people it would not be much of a life. Now is no time for cynical complacency.
Jagdish Bhagwati is university professor of economics and law at Columbia University and senior fellow in international economics at the US Council on Foreign Relations. He is currently co-chairman of the UNCTAD panel of eminent persons on "development-centred globalisation"
* Project Syndicate
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Fireball
Moscow claimed it hit the largest military fuel storage facility in Ukraine, triggering a huge fireball at the site.
A plume of black smoke rose from a fuel storage facility in the village of Kalynivka outside Kyiv on Friday after Russia said it had destroyed the military site with Kalibr cruise missiles.
"On the evening of March 24, Kalibr high-precision sea-based cruise missiles attacked a fuel base in the village of Kalynivka near Kyiv," the Russian defence ministry said in a statement.
Ukraine confirmed the strike, saying the village some 40 kilometres south-west of Kyiv was targeted.
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Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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CONCRETE COWBOY
Directed by: Ricky Staub
Starring: Idris Elba, Caleb McLaughlin, Jharrel Jerome
3.5/5 stars
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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List of officials:
Referees: Chris Broad, David Boon, Jeff Crowe, Andy Pycroft, Ranjan Madugalle and Richie Richardson.
Umpires: Aleem Dar, Kumara Dharmasena, Marais Erasmus, Chris Gaffaney, Ian Gould, Richard Illingworth, Richard Kettleborough, Nigel Llong, Bruce Oxenford, Ruchira Palliyaguruge, Sundaram Ravi, Paul Reiffel, Rod Tucker, Michael Gough, Joel Wilson and Paul Wilson.
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
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The biog
Age: 23
Occupation: Founder of the Studio, formerly an analyst at Cleveland Clinic Abu Dhabi
Education: Bachelor of science in industrial engineering
Favourite hobby: playing the piano
Favourite quote: "There is a key to every door and a dawn to every dark night"
Family: Married and with a daughter
THE LOWDOWN
Romeo Akbar Walter
Rating: 2/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Robby Grewal
Cast: John Abraham, Mouni Roy, Jackie Shroff and Sikandar Kher
Indian origin executives leading top technology firms
Sundar Pichai
Chief executive, Google and Alphabet
Satya Nadella
Chief executive, Microsoft
Ajaypal Singh Banga
President and chief executive, Mastercard
Shantanu Narayen
Chief executive, chairman, and president, Adobe
Indra Nooyi
Board of directors, Amazon and former chief executive, PepsiCo
Key 2013/14 UAE Motorsport dates
October 4: Round One of Rotax Max Challenge, Al Ain (karting)
October 1: 1 Round One of the inaugural UAE Desert Championship (rally)
November 1-3: Abu Dhabi Grand Prix (Formula One)
November 28-30: Dubai International Rally
January 9-11: 24Hrs of Dubai (Touring Cars / Endurance)
March 21: Round 11 of Rotax Max Challenge, Muscat, Oman (karting)
April 4-10: Abu Dhabi Desert Challenge (Endurance)
Mohammed bin Zayed Majlis
Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar
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COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
The specs
Engine: 3.5-litre twin-turbo V6
Power: 380hp at 5,800rpm
Torque: 530Nm at 1,300-4,500rpm
Transmission: Eight-speed auto
Price: From Dh299,000 ($81,415)
On sale: Now
Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh