GLOBAL TRADING SYSTEM MARKS 50 YEARS OF SUCCESS.(NEWS)

Byline: PHILIP WALLER

= [100.0] GENEVA -- It has revolutionized air travel and world communications, created millions of jobs and given the poor the chance to become wealthy. But many unemployed people around the world blame the global trading system for putting them out of work.

Such was the message of the world's leaders last week when they converged on this Swiss city to mark 50 years of opening up global markets through the General Agreement on Tariffs and Trade and its successor World Trade Organization.

Presidents and prime ministers stepped to the podium at the U.N.'s European headquarters to extol the virtues of the system which has reduced tariffs and broken down barriers to trade.

But they and experts watching the proceedings agreed that governments must take steps to safeguard the environment and protect farmers, workers and others hurt by loss of subsidies.

``This dynamic, idea-based new global economy offers the possibility of lifting billions of people into a worldwide middle class,'' President Clinton told ministers and delegates of the 132 WTO member countries.

``The GATT's system of trade rules and agreements has contributed massively to global prosperity,'' proclaimed British Prime Minister Tony Blair.

Competition has slashed the price of flying between countries or making a phone call.

However, while world leaders pledged to negotiate further liberalization, they were careful to acknowledge those who say the system is creating problems.

In his speech, Clinton admitted it contained ``the seeds of disruption.''

``We must do more to make sure this new economy lifts living standards around the world and that spirited economic competition among nations never becomes a race to the bottom in environmental protection, consumer protection and labor standards,'' he said.

Protesters smashed shop windows and damaged cars in Geneva city center to highlight what they claim to be the system's shortcomings.

They blamed it for contributing to poverty and neglecting the needs and problems of developing countries.

``We want an economy that is made for the people -- and not people having to serve the economy,'' campaign group People's Global Action, a worldwide alliance of organizations and grassroots movements, said in a statement. ``The logic of competition is forced upon everyone.''

Environmental groups complain the system don't pay enough attention to conservation issues and are urging the U.S. and other governments to address problems fast.

GLOBAL TRADING SYSTEM MARKS 50 YEARS OF SUCCESS.(NEWS)

Byline: PHILIP WALLER

= [100.0] GENEVA -- It has revolutionized air travel and world communications, created millions of jobs and given the poor the chance to become wealthy. But many unemployed people around the world blame the global trading system for putting them out of work.

Such was the message of the world's leaders last week when they converged on this Swiss city to mark 50 years of opening up global markets through the General Agreement on Tariffs and Trade and its successor World Trade Organization.

Presidents and prime ministers stepped to the podium at the U.N.'s European headquarters to extol the virtues of the system which has …