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Literature Review - Dissertation Example

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Literature Review Name: Institution: Literature Review – The WTO The World Trade Organization has come under harsh criticism over some of the policies it has employed to help manage international trade. This criticism is coming from many different quarters…
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Literature Review

Download file to see previous pages... Policies, for example, imposing tariffs on some goods and products are issues that make many organizations uneasy. To try and correct this issue, there have been several articles that criticize the moves that the WTO is currently employing. This paper will review some of the issues raised by authors and their take on the policies by the WTO. Authors’ criteria Faridul Islam, David McArthur, and Ian Wilson are the authors of “Globalization and the World Trade Organization: The Challenges Ahead.” This article reiterates what was said earlier by author Martin Khor on the troubles that the WTO faces in today’s trading economy (Islam, McArthur, & Wilson, 2007). Martin Khor is the Executive Director of the South Centre. It is an intergovernmental organization that aids developing countries in research. Previously, he used to be the head of the Third World Network. He criticized some of these policies, claiming that they do not consider developing nations in international trade, and their stake in the global market. Khor implies that the WTO is biased towards the richer countries. This point is supported by the authors of the article on globalization. What people do not seem to realize is that there are poor countries that need to participate in trade. This is in order for them to help their economies grow and develop. The economies in third world countries keep going down the drain, and the people suffer due to the policies put in place by the WTO (Islam, McArthur, & Wilson, 2007). The difficulty with such strategies is that the vast population of people in the developing nations has nobody to look out for their interests. In the interests of the population in the developing nations, the policies that exist are out to serve the people of more developed countries. Their products reach a vast area of other continents, and they also get products from other areas. However, they do this at a much cheaper rate than the manufacturer used to manufacture their products (Davey & Jackson, 2008). This is what has many organizations up in arms trying to figure out a way through these policies, and help the different economies in the member countries of this organization. Levels of analysis What the authors of the article claim is the point that developing countries lack the capacity to follow negotiations by the WTO. This presents a problem to these countries. In order to comprehend what goes on, they need to be an intricate part of the international community. This is when it comes to trade and the problems associated with trading internationally. Having high import duties on countries that can barely afford to export their products is not fair. This is as the authors suggest in the article and bring Martin Khor’s point to light. In order for there to be a fair chance for all countries to trade freely, the stipulations should be changed to suit the current situation (Khor, 2007). It is vital that everyone has the potential to understand what impact such policies have on them and their economy. Trade cannot be trade if only one country or a selected few are involved in it. There has to be the fair exchange of commodities, products, goods, and services so as to call it trading. The creation of barriers in trade should not be out to benefit one country, while leaving some out in the cold (Krueger & Aturupane, 2000). International trade enables the coming together of people of different ethnic, cultural, and ...Download file to see next pagesRead More
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