Cancun is accustomed to being overrun by college students on spring break. But last week the Mexican resort town was invaded by 5,000 representatives of the 148 nations that are members of the World Trade Organization. Instead of tequila and sun-tans, the delegates focused on tariffs and subsidies as they attempted to kick-start the current cycle of trade liberalization talks. Much is at stake. The World Bank estimates that a WTO agreement that significantly lowers trade barriers could increase world income by $520 billion by 2015 - with most of the gains going to developping countries - and lift 144 million people out of desperate poverty. Yet contentious issues dividing poor and rich nations may hold up the talks indefinitely. Also, the Bush's administration pursuit of indivudual trade agreements outside the auspices of the WTO may do global trade more harm than good, critics say. The biggest bone of contention among the Cancun delagates is the subsidies that US pay their farmers.
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