InTERNATIONAL STUDIES IN BUSINESS - Assignment Example

Response to the WTOs Director-General, Pascal Lamy, claim that the WTO is a significant agency in fighting poverty I agree this is because World Trade Organisation (WTO) mission is to provide equal opportunities for all the member states. In connection to this, WTO plays a critical role in facilitating globalization, so that all countries can access the international markets. Globalisation increases international trade. WTO experts have consistently argued that the Doha negotiations are a crucial response to the emergencies of climate, food, employment, and economy.

However, lack of good political good has made WTO not to meet its mission. For example, the WTO Doha agreement has never been met; even the minimum packages for LCDs and yet these are the countries that need much attention. Conventional theory argues that liberation in trade should benefit the developing countries more than it benefitted the developed countries because globalisation is supposed to assist the countrys joining the bigger economies have access to their markets. On the contrary, it is the developed countries which have been gaining instead.

On April 10, 2006, immediately after the director general had announced that they were planning to implement the Doha strategy some countries like U.S started demanding benefits for its own economy in case they provide aid to LDCs.Response to classmate answer. I agree; WTO is meant to improve comprative advantage and hence increase international trade. WTO has made progressive in balancing trade between developed countries and developing countries, however, for globalization to be achieved, WTO will have to lower export tarrrifs for LCDs.

Also developed countries should provide a good political will.ReferenceWorld Trade Organisation.” Lamy: Trade is “fundamental tool” in the fight against poverty." World Trade Organisation, 2014. Web. 15 April. 2014. http://www.wto.org/english/news_e/sppl_e/sppl05_e.htm