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Sustainability Of The International Trade Regime - Term Paper Example

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Sustaining the international trade regime and keeping it afloat is the result of shared efforts among many countries. The paper "Sustainability Of The International Trade Regime" provides two reasons as to why international cooperation, rather than hegemony sustains the international trade regime…
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Sustainability Of The International Trade Regime
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Download file to see previous pages The first reason is that the developing countries are as necessary to sustain the international trade regime now, as the developed countries/dominant countries. This is primarily because the international trade regime and the capitalist project are largely dependent on labor and natural resources – assets which the developing countries have in abundance. The second is that the viability and sustainability of the international trade regime depend as much on trade as well as on issues such as the environment and climate change. The debates created by a diverse international community has preserved rather than compromise the international trade regime. To this end, I will give the example of the debate between the US and Europe on biotechnology.
A. The developing countries are as necessary to the international trade regime as the developed countries
Krasner has argued that a “potentially dominant state has symbolic, economic and military capabilities that can be used to entice or compel others to accept an open trading structure.” (page 27). There is of course logic to this assertion as we have seen the many ways in which asymmetrical power relations were used to compel adherence to the principles of liberalization. He has also discussed the unfair and unjust ways that the developed nations might have taken advantage of developing nations in order to establish their lead, as for example, using protectionist policies to get ahead and then demanding openness and trade liberalization once a chasm has been created. ...Download file to see next pages Read More
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