Doha lite offers light

It appears there is some light at the end of a very long tunnel. Hopes have been revived at the World Trade Organisation (WTO) with Director-General Pascal Lamy coming forward with a new “multi-speed” offer that should enable the fast-trackers and the laggards to remain on board before a portmanteau deal is struck. No one seriously expects the US to sign up on any real hold-all deal till the next presidential elections are over and a new administration takes charge in the winter of 2012-13.

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