In a shock decision, India has blocked ratification of the Bali trade deal. Ironically, emerging markets have the most to lose from neo-protectionism as this will create a two-speed trading regime, with the EU, US and other economic powerhouses creating their own free trade alliances.

The very existence of the World Trade Organisation is now being called into question, following India’s decision to block ratification of the Bali Trade deal agreed in December 2013.

The failure […]