A broad view on trade

It is a pity that talks on a global trade deal between key World Trade Organization (WTO) players ended prematurely on Thursday in Potsdam, Germany.

The failure of the United States, the EU, Brazil and India to broker an outline deal diminished hopes of WTO officials that an agreement on trade liberalization could be reached before the end of 2007.

Theoretically, WTO members still have chance to reach a global free trade agreement despite the collapse of the crucial talks.