Obtain a copy of the article “Unlocking the Benefits of World Trade” by Jeffrey Schott, The Economist, November 1, 2003. Work in small groups to develop a 15-minute presentation that completes the following requirements.

Required

a. Use the decision-making framework presented in Exhibit 13—1 to describe the reported decision making at the global trade talks in Cancun, Mexico, in September 2003.

b. Describe the major factors that impeded decision making at the Cancun talks.

c. Describe how you would measure costs and benefits of alternative decisions, such as elimination of agricultural subsidies or tariffs on manufactured clothing.

d. Summarize the status of decision making at the end of the Cancun talks.

e. (Optional) Provide an update of decision making for global trade, incorporating more recent developments.