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.
Nobody downloaded yet

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

Comments (0) Cite this document
Summary
This paper shall discuss the thesis that the World Trade Organization has been hijacked by rich country interests, thereby worsening the conditions of the poor in less prosperous countries. This paper has such sections: analysis of the position and arguments for the positions…
Download full paper
GRAB THE BEST PAPER
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... This research will begin with the statement that the World Trade Organization was formed with a motive of supervising the environment of world trade in a globalized world. At the inception of the WTO, the main focus of the organization was the promotion of the economic condition of the developing nations and to facilitate a trade that would work in favor of the growth of these nations. However, there was very little development that was noticed due to the presence of WTO. It has been claimed by different experts of various nations that the WTO has been controlled by the selfish interests of the nations that are considered to be powerful in the world forum.  The decision-making process on the regulations and the principles of trade remained in their hands. In most cases, it has been seen that the developing nations have been controlled and manipulated by the large nations especially through investments and modern technology sharing. The developing nations are dependent on the rich nations for their prosperity mainly because they export to the developed countries and import the updated know-how of production and other necessary goods and services from the latter. The system of foreign trade has also become complicated with the multinational companies setting up subsidiaries in the developing nations. These actions have benefitted the developed countries more than it has helped the developing nations....
This particular example proves that the World Trade Organization only thinks about the rich and prosperous countries. In terms of agricultural subsidies, it can be stated that the subsidies provided to the rich world farmers can threaten the livelihood of the farmers of developing world or the third world countries. However, the members of the World Trade organization failed to agree on these things (Bruges, 2004, p.61). The World Trade Organization also failed to make clear the deliberately vague rules on the concluding trade agreements which can allow the developing or less prosperous countries to be influenced by the rich states. There are no such clear rules to protect the farmers or poor people while negotiating with the European Union as the poor African Countries have been forced to abolish tariffs on up to 90 percent of total trade. The World Trade Organization has failed to fulfil its agenda of protecting the interest of the developing countries in the arena of international trade which has been largely due to influence of the global economic superpowers. The rules proposed by the World Trade Organization for the developing countries were special and differential treatment rules which were meant to be reviewed by the WTO. The proposals have failed due to the interests of the global economic superpowers. The implementation of special economic zones and export processing zones in the less prosperous and less developed countries were proposed in order to maintain the equilibrium in international trade by stimulation of foreign investments which proved to be a failure (Ratnesh, 1999, p.47). WTO has also not been able to minimize the legal costs through improved access of its complex legal system to the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The WTO has been hijacked by rich country interests, thereby worsening Coursework - 1”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1491556-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 Coursework - 1)
https://studentshare.org/macro-microeconomics/1491556-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 Coursework - 1”, n.d. https://studentshare.org/macro-microeconomics/1491556-the-wto-has-been-hijacked-by-rich-country-interests-thereby-worsening-the-conditions-of-the-poor-in-less-prosperous-countries.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Bilateral IP and trade agreements that operate beyond the WTO/WIPO
the WTO’s role as a regulatory body for international trade has become even more critical, and due to the needs, its role has been extended beyond its primary role in negotiating and formulating trade agreements and providing solutions to international trade conflicts.  The WTO has also other functions including reviewing the international trade policies, providing support to the developing nations to develop policies, assisting in training with respect to trade and bringing about international mutual cooperation with relation to trade.  There are more than 153 under the WTO and more than 96% of the global trade is enabled, along with several non-full-time members that make take part i
14 Pages(3500 words)Coursework
International aspects of business law
One of the oldest forms of international trading is arbitrage, the discovery of lower prices in one market and profitable resale opportunities in other environments globally. For traders of commodities which require physical transportation and delivery to other markets, international agreements will apply to the transaction as well as to import taxes and duties.
8 Pages(2000 words)Coursework
The WTO has been hijacked by rich country interests, thereby worsening the conditions of the poor in less prosperous countries
This was based on the idea that equity in trade would provide an avenue for opportunities for smaller and weaker economies to grow and develop. However, there are few indications to show that the WTO has lived to this objective. Discussion One of the behaviors of this global entity is that it fails to enact rules and regulations based on consensus.
3 Pages(750 words)Coursework
International Marketing Management Coursework
As a result, economic interdependence and interaction between countries are becoming ever stronger. In this massive tide of economic globalisation, no country can develop and prosper in isolation. China has learnt from her long history that isolation leads to backwardness.
30 Pages(7500 words)Coursework
Foreign investment law and international trade law

This report starts with addressing the trends, in the last five years or so, within International trade and foreign direct investment and give comments on the developing countries’ share in world trade in goods and services. It will then go on to the evaluation of the legal, political and economic effects of world trade liberalization.

9 Pages(1250 words)Coursework
The level of awareness of the World Trade Organization
This dissertation is based on marketing theories, which include individual’s awareness of the brand that is the World Trade Organization. The paper presents limited information on the organization, as the primary research objective is the link between attained educational standard and the level of understanding and recalling of world trade affairs.
30 Pages(7500 words)Coursework
Financial Liberalisation in Emerging Economies
The emphasis is on drawing a relationship between financial liberalisation and the Asian financial crises of 1997-98 to suggest that the financial crises may have broader implications and wider lessons for developing economies such as in Africa. The Asian financial crisis analysis exposes the risks and also suggests solutions to problems of a liberalised economy.
20 Pages(5000 words)Coursework
Chinese Economic Development
This study presents an attempt to uncover the common processes of successful industrial development based on the case studies of selected industrial clusters in China. In China industrial clusters consisting of small and medium enterprises have been proliferating in areas where private sectors have successfully developed.
24 Pages(6000 words)Coursework
Why has the World Trade Organisation failed to establish a free trade regime
A series of rules has been developed ensuring the credibility of the relevant procedures – these rules are mainly included in
4 Pages(1000 words)Coursework
Aids work
In 2000, AIDS, malaria, and tuberculosis were three major epidemics in Africa. They were targeted by the Millennium Development Goals of the United Nations, and the healthcare conditions in Africa are much better now. Landmark summits hosted by Nigeria also
1 Pages(250 words)Coursework
Let us find you another Coursework 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:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us