Developing countries demand bigger role in global finance and trade.

(From Gulf News)

Byline: Stewart Fleming, Special to Gulf News

In the wake of the breakdown of the Doha Round of trade talks in Cancun on September 14 it was only a matter of time before the developing countries who had, for the first time, come together to make their weight felt within the World Trade Organisation, began to flex their muscles again.

Yesterday they did. In what looks like the commencement of a long march to greater influence through the world's international institutions, developing countries made clear within the confines of the Development Committee that they were ready to question the old pals act which ensures that an American always heads the World Bank and a European the International Monetary Fund.

James Wolfensohn, President of the Bank, said at his first press conference in Dubai on Saturday that he saw Cancun as a moment in history which would be remembered for more than the (probably temporary) breakdown of trade talks.

"What I think you saw in Cancun was a positioning on behalf of the developing countries that …