Any effective multilateral system depends largely on the willingness of its most powerful members to exercise restraint in the pursuit of their own objectives in the larger interest of systemic stability. This implies fairness and predictability in enforcing agreed rules, safeguards against the abuse of basic principles, and respect for the interests of the weaker members. Yet, the US and the European Union have managed for decades to secure for themselves derogations from General Agreement on Tariffs and Trade/WTO principles, especially in agriculture and labour-intensive manufactures, and are now demanding compensation for giving them up.

If there is any threat to the stability of the international trading system it lies not so much in what happens to the Doha round but in the narrow and aggressive manner in which the rich developed countries promote their version of market liberalism with scant regard for the circumstances and interests of the rest of the world.