Only the US and China can craft a global trade deal, glum WTO head says

Outgoing World Trade Organization Director General Pascal Lamy offers a simple prescription to fix the disappointing Doha round of trade talks: Compromise between China and the US on industrial tariffs. Lamy says the lack of compromise between the two countries is blocking plans to limit new trade barriers from being erected in the face of slowing growth, but didn’t sound hopeful about the prospect of a pact.