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CNN Live At Daybreak

One Day Left for W.T.O. Conference

Aired November 12, 2001 - 06:17   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KYRA PHILLIPS, CNN ANCHOR: Ministers have one more day of talks ahead of them at the World Trade Organization. CNN's Charles Hodson is covering the meeting in Doha, Qatar -- good morning, good to see you, Charles. I guess it's not good morning to you, though, right?

CHARLES HODSON, CNN CORRESPONDENT: Hello, it's actually good afternoon to me. It's about -- right about 2:15 in the afternoon here in Doha, Qatar.

Yes, ministers, I suppose, were buoyed up, if you like, today by their achievements over the weekend. They agreed to admit both China and Taiwan, although Taiwan has to come in as a separate customs territory. That's part of the niceties between China and Taiwan -- but certainly to have these huge trading partners.

Taiwan, by the way, is the 14th largest trading nation in the world. There's about $55 billion worth of trade each year with the United States. It is a real achievement to have them on board this multilateral system of trade negotiations, and clearly, there are enormous benefits to have them also. The opening up of China, the intensifying of its economic reform, is a matter for some euphoria.

But there are those who say that although this is generally welcome, there are going to be huge difficulties, particularly on the question of labor standards, trade union rights and particularly among India and China's other competitors among developing nations.

(BEGIN VIDEO CLIP)

BILL JORDAN, SECRETARY-GENERAL CFTU: I am confident that when historians reflect on China's entry into the WTO, they will rate this as one of the most significant events of the 21st, both to China, for the WTO and for the world.

(END VIDEO CLIP)

HODSON: Well, that was the director general of the WTO, Mike Moore, and clearly, that brings the focus back onto the purpose of this ministerial meeting, which is to get a new round of global trade talks started. We are running fairly close to the deadline, Kyra. We'll have to see -- back to you.

PHILLIPS: Now, Charles, about a year ago, these issues would have been a lead story. Do you think it's fallen by the wayside? Is it even relevant?

HODSON: I think in certainly in the U.S. terms, China already has most-favored nation status, but certainly, I think, Mike Moore is right. In terms of global trade, it is hugely important that the world's most populous nation is on board. It is hugely important, too, that across the state of Taiwan now, there will be bilateral trade, regulated on a multilateral basis by the WTO, and that there will be huge benefits. Taiwan is looking forward to this with enormously, and thinks that it can provide, finance the marketing, the brain power, the R&D if you like, whereas China with its enormous industrial muscle and bubble, its cheap wages will provide, if you like, the muscle, the body behind that brain.

Certainly, this is a huge event. It's just very long anticipated, which makes it less headline worthy, I suppose -- Kyra.

PHILLIPS: Charles Hodson, covering the World Trade Organization -- thank you so much.

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