Doha talks could defrost, Lamy says
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E-mail China Daily, April 1, 2013
In this case, what matters is regulatory differences and technical standards issues, said Lamy.
Analysts said that possible mega-pacts between the US and the EU will give them a chance to establish international standards and place pressure on emerging and developing economies.
How future mega-deals affect world trade will depend on the convergence of standards, he said.
"Countries like China also have a big stake in standardization. China could be more proactive in promoting a multilateral system of standards. It would be more beneficial to China," Lamy said.
But it will take some time for China to build the capacity, he added.
China's strength
Trade has been a long-term driver of China's economic growth, and entry into the WTO 11 years ago has greatly changed the country's economy.
But to remain a winner in trade these days, countries need to adopt a modern concept of trade, namely, what to add to your economy through participation in international trade. Adding value has become a necessity, Lamy pointed out.
"Of course there are winners and losers, but more competition is good for consumers. This is efficient, but not painless," he said.
He said the Western economy is "slightly better" but another five years of slow growth is very possible.
Nine candidates from across the world are in the running to replace Lamy as the next director-general.
There is also speculation that Lamy will enter French politics after he steps down.
"I'm keeping my options open," Lamy said.
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