International business (Discussion Board) - Assignment Example

Claims That the WTO Is a Critical Agency in Fighting Poverty The claims that have been purportedly placed alluding to thefact that WTO is a critical agency in fighting poverty is true and I earnestly agree with this line of thought. Trade plays a central role in the development and helps in the global allocation of resources, thus enhancing outputs and productivity and increasing the overall welfare of a society that in turn sees a decline in the rate of poverty. Trade allows a country to better specialize in an area of interest, a factor that would boost productivity, which in turn leads to the development.

In this century, trade and its policies have fundamentally transformed societies that have heavily been stuck on poverty thus making the millennium development goals achievable over time. Trade plays the role of fostering development and holds the power to promote the economic growth of the country and with this; poverty is alleviated with a motive of reaching the development goals of such a country. It is upon countries to embrace and take advantage of trade opportunities in order to reap from its benefits.

My fellow proponents have also reached a consensus in agreeing with my view that trade is important in the development of the country. Among their reasons that support this view are in the areas of infrastructure. They believe that when some countries do not have the capacity to acquire infrastructure, they would rather turn to deploying trade with other countries for the products they need. In my opinion, this would improve the economy of these countries since they use this platform to get what they do not produce.

They tend to agree that some organizations have been accorded the mandate to work on possible ways of eradicating poverty through trade and WTO is given consideration. I tentatively agree think otherwise. I am tempted to believe that it is within a countries capacity to derive mechanisms to eradicate poverty since they understand their contexts very well. The only capacity they lack is on knowledge of how to and the resources needed to achieve this. WTO would rather act as an overseer in foreseeing that Countries is better equipped to handle their problems.

Work CitedLAMY, PASCAL. "Trade is “fundamental tool” in fight against poverty." WTO News. UNCTAD: Palais des Nations, 6 October 2005. 1