 Re: WTO case against China could all be for nothing
A buyout will not work and just giving Antigua rights will not work.
If the US pays Antigua X million (I was hearing $300mm was the bargaining figure), every other poor ass country in the WTO will file a dispute and seek their millions too.
If the US gives Antigua the right to offer gaming, but keeps laws in place to prevent other coutries: 1. China will still be able to say the US is breaking a WTO ruling by having contradictory laws. 2. Many other countries would file the exact same appeal and the WTO would not need much thought to rule. The WTO must have a methodology for subsequent cases over the same thing. I can't imagine them hearing 50 cases separately.
Basically, the US has two choices and will need to do one of them within the next year:
1. Allow offshore gambling - likely with some regulations (Which wont work) to watch for money laudering and terrorists. Most likely the wire act will be repealed and US casinos will be given the ability to do fair competition with taxes.
2. Basically dissolve the WTO by giving it no power or effect.
Taking on China right after losing was not something the US would have done if they intended to ignore. It is much easier to ignore when not pursuing others.
I suspect we'll see wagering legal before Bush leaves office.
-Sean |