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Diverging agendas between the developed and developing nations resulted in the failure of the World Trade Organisation (WTO) Ministerial Conference in Cancun, Mexico, two months ago. But, writes International Trade and Industry Minister Datuk Seri Rafidah Aziz, the outcome of the meeting should not be cause for despair. She explains why the trade talks collapsed and calls on the WTO to focus on areas where convergance of views exists.
HIGH liquidity, stronger currencies and robust domestic growth will keep Asian stock markets buoyant next year notwithstanding anticipated interest rate hikes and political concerns in certain parts of the region. Investor interest will also be shifting from cyclical I>beta/Istocks to those with long-term growth potential.
The US government's budget deficit came under fire on Wednesday from two global institutions saying a plan to halve the record gap by 2009 may not be enough to stop long-term damage to the world economy.