Event:
At a World Trade Organization meeting, a trade agreement called the Bali Package is reached; the agreement will lower global trade barriers and will simplify trade deals to better enable poorer states in Bali, Indonesia to sell their goods
More Notable Events on December 7:
1988 Mikhail Gorbachev cheered by Wall St. crowds upon arrival in New York City
1981 Spain becomes a member of the NATO alliance
1949 Chiang Kai-shek flees to Taiwan
1945 Microwave oven patented
1941 Japanese attack Pearl Harbor, a date that will live in infamy
