The paper analyses the interests of China as a member of the G-21, which contributed to the failure of the WTO Ministerial Conference in Cancún/Mexico in September 2003. It concludes that the median member of G-21 is more inward-looking and less reform-minded than China. A failure of the Doha...

Recent studies found evidence for nominal wage rigidity during periods of relatively high nominal GDP growth. It has been argued, however, that in an environment with low nominal GDP growth, when nominal wage cuts become customary, workers' opposition to nominal cuts would erode and, hence,...