The noodle bowl

摘要

These are worrying times for world trade. Despite a recent levelling out after the first quarter's collapse, the World Trade Organisation reckons global trade volumes will be around 10% lower this year than in 2008. Trade ministers convened in New Delhi this week to talk about resurrecting the Doha trade talks-but those talks remain moribund. Yet amid the general gloom, activity on one sort of trade-bilateral free-trade agreements (ftas)-continues at a feverish pace in Asia. This month, another deal was signed, this time between India and South Korea.