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At the recent World Economic Forum (WEF) meet at Davos, Switzerland, five sessions were devoted to matters relating to the current state of global trade and investment. In the end, it was clear that the views are too divergent on critical issues.
In a panel discussion, Katherine Tai, the US Trade Representative called for a new version of globalisation that does not lose sight of the consumers, workers, family members and community members who want to benefit from the economic opportunities. She made it clear that labour standards will be a key element of trade policy of the Biden administration. Poorer countries do not want to go along with that view on the grounds that it is intended to deny them the natural advantage of cheap labour.
The European Union (EU) is committed to imposing a carbon tax i.e. a tax on goods entering the EU that according to its authorities are produced using less environment friendly processes. India and m
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