The year 2005 can be a critical one in advancing the fight against global poverty. The good news is that leading governments have recognized it as a priority in global diplomacy, on a par with some of the critical security and political challenges of the day. The bad news is that this diplomacy may produce fine-sounding communiques but may not be backed by political will, the essential ingredient needed to move leading democracies from words to action in both the industrial and the developing world.
The U.S. still has some leverage over China, because China clearly wants a deal. ... U.S. financial markets also seem to have been boosted by the prospects of a U.S.-China trade deal, so I think it could have a negative effect on both financial markets and economic activity in both countries if a deal is not struck