Nobody downloaded yet

The WTO has been hijacked by rich country interests, thereby worsening the conditions of the poor in less prosperous countries - Essay Example

Comments (0) Cite this document
Summary
One of the realities and dynamics of global power is with regards to the fact that a disproportionate level of this power is held in the hands of a few. As a function of understanding this unethical application of international power, the following analysis will engage the reader with an understanding of the World Trade Organization (WTO) and the means by which this particular organization is hijacked by rich and powerful nations as a means of exploitation for poorer and less powerful countries around the globe…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.8% of users find it useful
The WTO has been hijacked by rich country interests, thereby worsening the conditions of the poor in less prosperous countries
Read TextPreview

Extract of sample "The WTO has been hijacked by rich country interests, thereby worsening the conditions of the poor in less prosperous countries"

Download file to see previous pages Taking the case of Zimbabwe as case in point, one can see how the WTO seeks to exploit this resource rich area of the globe for its mineral wealth while at the same time rejecting the market value of finished goods or food that Zimbabwe is capable of producing (Baumberg & Anderson, 2008). As such, the relationship is only a one way relationship in which Zimbabwe, and many nations like it, are forced to sell their products at lower prices to the richer members of the WTO. Further, even the goods that might exist to be traded on the global market are disproportionately priced and locked out of key global markets as a result of the actions that entities such as the WTO engage. Yes, it must not be the understanding of the reader that such a situation of raw material extraction and price setting is somehow unique with regards to sub-Saharan Africa. Instead, the unfortunate fact of the matter is that developed nations around the globe utilize price setting and currency wars, as well as product dumping, to ensure that this particular approach to global supremacy and economic power are maintained at a systemic level. Further, taking the example of Burma, a nation that has only recently stepped out of military dictatorship, it can be understood that the WTO also seeks to take advantage of this nation; not only with respect to its surplus of cheap labor but with regards to its agricultural exports. As a direct result of the combined benefit of preferential trade, WTO member nations, specifically the wealthy ones, are able to pay their own farmers a subsidy in order that they might be able to compete with the low cost exports of nations such as Burma. In such a manner, entities such as the WTO are able to exploit poorer/less developed nations by forcing them to sell the products that are desired at a given price as well as ensuring that they are not able to gorow their own domestic economy by subsidizing any industry or agricultural sector that runs the risk of being overtaken by the cheap exports that such a nation might provide to the market (Williams, 2001). One need look no further than the way in which heavy levels of subsidies exist throughout Western Europe and the United States in order to understand the way in which offenses maneuvers are continually engaged to ensure that the third world is unable to compete with the first. As such, the take away understanding that can be provided from this brief analysis is the fact that the WTO is ultimately like any other organization is made up of a large number of stakeholders (Antell & Coleman, 2011). Rather than determining that the WTO is brought to human ethics and should be dissolved immediately and forth with, the more reasonable and rational understanding that should be engaged is the fact that a disproportionate level of power and determinacy is given to those nations that hold the wealth throughout the global system; enabling them to take advantage of the poorer nations and set prices rather than engaging in a level of true economic freedom and cooperation. Ironically, this level of freedom and economic cooperation is the cornerstone upon which the WTO was originally founded. However, as can be seen from the preceding ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The WTO has been hijacked by rich country interests, thereby worsening Essay”, n.d.)
The WTO has been hijacked by rich country interests, thereby worsening Essay. Retrieved from https://studentshare.org/business/1491340-the-wto-has-been-hijacked-by-rich-country
(The WTO Has Been Hijacked by Rich Country Interests, Thereby Worsening Essay)
The WTO Has Been Hijacked by Rich Country Interests, Thereby Worsening Essay. https://studentshare.org/business/1491340-the-wto-has-been-hijacked-by-rich-country.
“The WTO Has Been Hijacked by Rich Country Interests, Thereby Worsening Essay”, n.d. https://studentshare.org/business/1491340-the-wto-has-been-hijacked-by-rich-country.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The WTO has been hijacked by rich country interests, thereby worsening the conditions of the poor in less prosperous countries

The GATT/WTO Agreements effectively protect the interests of the developing country members of the WTO

...the average increase at a maximum of 24%. Furthermore, the special products flexibility allowed for developing countries is observed to be much less than that which the G33 had requested.19 Another observation has been made concerning the special safeguards mechanism (SSM) on agricultural products. The Doha version includes so many conditions that must be complied with before the mechanism applies, and the remedies prescribed are highly restrictive. For instance, the extra duties under SSM can be allowed to exceed the Uruguay Round bound rates, but only under limited conditions while the quantum of the extra duties is very limited. On...
18 Pages(4500 words)Essay

Rich and Poor by Peter Singer

It is therefore there could not be any possibility of comparing the level of deprivations between the two culturally and economically pole-apart zones of the globe. The rich nations, according to the author, spend millions of dollars in feeding their pets, while they are unable to realize the bitter fact that by doing so, they are adding their share in respect of depriving the millions of humans of adequate food and proper nutrition. Although, the animals should not be deprived of the food, yet humans must be considered at first stance in order to make the world healthy, productive and beneficial one for the collective benevolence and progress of humanity at large. The affluent do not acknowledge the sufferings of the extremely po...
4 Pages(1000 words)Essay

Closing the gap between rich and poor countries

...to close the economic, educational, digital, and social gaps of our planet among the rich and the poor regions” (Laouris & Laouri, 2004, p.254). However, it is necessary to develop infrastructure necessary to use these technologies effectively. It should be noted that poor countries or developing countries have less infrastructure facilities compared to developed countries and hence such countries are struggling to use the opportunities provided by modern technologies. “The International community (and especially the G8, the UN, and the EU) must engage in an orchestrated effort to bring technology closer...
4 Pages(1000 words)Essay

Poor Nations Are Poor Because the First World Is Rich

...? Poverty in third world nations Introduction There is an evident divide among the nations of the worlds today. The developed world is characterized by remarkable infrastructure, the best educational systems, and good health care systems. On the contrary, there are poor nations with people living on less than a dollar a day, deplorable health care systems, malnutrition and lack of clean water. The sharp contrast could be argued to have been caused by exploitation of the poor by the rich countries. The following discourse seeks to analyze the fact that poor nations are so because of the rich nations. The...
4 Pages(1000 words)Essay

The WTO has been hijacked by rich country interests, thereby worsening the conditions of the poor in less prosperous countries

...Union members have maintained high import tariffs and imposed quotas on goods that originate from poor economies like those in Africa. This has blocked exports from these poor countries from entering most of the western nations especially products like clothing and food products. At the same time WTO pressurizes most of the poor countries to implement free market policies and non tariff barriers across their boarders. This is done intentionally so as to allow the European countries to dump their excess products into these poor economies thereby worsening...
3 Pages(750 words)Coursework

The WTO has been hijacked by rich country interests, thereby worsening the conditions of the poor in less prosperous countries

...The WTO has been hijacked by rich country interests, thereby worsening the conditions of the poor in less prosperous countries.” Contents Contents 1 Analysis of the Position 2 Arguments for the Positions 3 References 5 Analysis of the Position The World Trade Organization was formed with a motive of supervising the environment of world trade in a globalised world. At the inception of the WTO, the main focus of the organization was the promotion of the economic...
3 Pages(750 words)Coursework

International relation-What is anarchy in IR What causes war

7 Pages(1750 words)Essay

Bio research paper-Glacier, shared by Canada & US

9 Pages(2250 words)Essay

The Wind Energy Advancement Act

1 Pages(250 words)Assignment

Rich and Poor Countries

...higher living standards as a whole than other countries in the same region or in different locations. At the same time, looking at some countries in sub-Saharan Africa and the Middle East, it is easy to see that there is a visible difference between rich and poor countries. It seems that the primary reason for this divide is the lack of positive international trade but the divide may be conquered with the aid of technological knowledge transfer and the evolving approach to helping these countries which is taken by organizations such as the IMF, the United Nations and the World Bank. International Trade Global trade and international...
8 Pages(2000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic The WTO has been hijacked by rich country interests, thereby worsening the conditions of the poor in less prosperous countries for FREE!

Contact Us