An argument that the World Trade Organization (WTO) is largely failing to improve the developing world.
Written in 2009; 2,380 words; 7 sources; APA; $ 72.95
Paper Summary:
The paper examines the impact that the World Trade Organization (WTO) has on the affairs and prospects of developing nations and attempts to portray how the WTO initiatives are exploitive, rather than beneficial, to these nations. The paper discusses the inequality of the WTO's policy representation, its impractical demands of repayment for aid debts, its widespread exploitation of third world labor and the ever growing chasm between rich and poor. The paper asserts that the WTO is more a vehicle to the interests of its most influential parties than a channel for the regulation of free trade. The paper therefore considers several factors, such as greater regulation of private activities and laws protecting international laborers and environments, as central to the proper stewardship of globalization.
From the Paper:
"The process of globalization is changing the way that companies and countries conduct business. From institutional factors such as the laws and tax policies of partnering nations to internal personnel decisions, the adoption of free trade policies is altering operational strategy. Among the most salient indicators of the implementation of free trade and its gradual permeation of the developing world is the appeal to outsourcing which has become an integral part of developed business administration, with developing countries increasingly becoming open to the commercial activities of outsiders. These outsiders are generally western or developed nations, or major multinational corporations, who have sought to engage in the privatization and/or development of infrastructural, technological and market foundations for global economic inclusion. However, a consideration of the impact which the chief global agency in the oversight and policy implementation of this transitional process on developing nations, as well as on the global community at large, suggests that the World Trade Organization (WTO) is largely failing to meet the interests of improving the whole of the developing world."
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