The future prosperity of so many nations, in the developing world as well as the developed, depends on these crucial trade talks. In terms of international financial issues, I think we can all recall quite clearly a fairly recent example of what can happen when the international financial order breaks down.
The Asian financial crisis occurred almost a decade ago, yet who can forget how rapidly it swept around the globe; knocking down currencies, shaking up markets, spreading to other emerging-market economies, and throwing many into a tailspin. Demand for commodities contracted sharply during the Asian crisis, which eventually led to a dramatic decline in many world commodity prices.