World Trade Organisation Essay

World Trade Organisation Essay

Length: 2039 words (5.8 double-spaced pages)

Rating: Powerful Essays

Open Document

Essay Preview

World Trade Organisation

The official World Trade Organisation web site, defines the WTO as “the only global international organisation dealing with the rules of trade between nations . . . [through] helping producers of goods and services, exporters, and importers (to) conduct their business”1. It was formed in 1995 after growing out of and extending the institution of the General Agreement on Tariffs and Trade. As of the thirtieth of November 2000, the WTO has 140 member-countries, over three-quarters of which are developing or least-developed countries. As the WTO implies, its current role is to serve as the lubrication for the joints in the engine of globalisation; although just how effective and fair this lubrication may be, is still a point of great contention.

The WTO preaches that its purpose and effect are to “improve the welfare of the people of the member countries”2, and it claims that this is achieved by administering trade agreements, and monitoring and handling trade disputes. This essay will test the truth in this statement, of whether or not the actions taken by the WTO have failed to further enhance the welfare of the people of its member countries, and if so, whether the WTO therefore needs to be either reformed or even abolished.

The criteria by which I will assess this truth, takes into account the three major arguments that are held against the WTO, with regard to its affect on the welfare of the people of its member countries. One of these arguments is that the international rules the WTO authors, consistently favour multinational corporations at the expense of workers and small farmers. Another argument is that by removing trade barriers as the WTO seeks to achieve, jobs are ‘exported’ to lower labour cost countries where the standards to which the labourers are subjected, are below what is internationally accepted. The final main argument against the WTO’s aims that is raised, is that if countries cannot make their industries globally competitive, they will experience a decline in their people’s standards of living. Judging the results of these arguments, will allow me to decide whether or not the WTO is in need of reform, abolishment, or if it should continue without alteration.

The basic premise of the WTO is to open up trade between nations, and one of its potential disadvantages is that its opera...


... middle of paper ...


...) “Slow out of the blocs” The Australian February 1 p.28.

Mitchell, A. (2001) “Let community have its say” The Australian Financial Review March 7 p.6.

Steketee, M. (2000) “Unhappy days are here again” The Australian June 17 p.4.

The Australian (2000) “Fabric of the fair go ripped to shreds” June 17 p.4.


Internet:

Ebeling, R. (2000) Free Trade Versus Protectionism
[ON-LINE] http://www.freerepublic.com/forum/a3950b6be763d.htm

S-11 Online (2001) Frequently Asked Questions: FAQ
[ON-LINE] http://www.s11.org/s14/s11.html

Sirico, R. (2000) Free Trade and Human Rights: The Moral Case For Engagement
[ON-LINE] http://www.freerepublic.com/forum/a392420130b93.htm

Wills, J. (2000) Multinationals and the Poverty Trap
[ON-LINE] http://www.unfairtrade.co.uk/pov/articles.shtml

WTO Online(1) (1999) 10 Benefits of the WTO Trading System
[ON-LINE] http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b03_e.htm

WTO Online(2) (1999) 10 Benefits of the WTO Trading System
[ON-LINE] http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact1_e.htm

WTO Online(3) (1999) What is the WTO?
[ON-LINE] http://www.wto.org/english/thewto_e/whatis_e/whatis_e.htm

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on World Trade Organisation and Legalization

- "The WTO is now a debating society with a Supreme Court". Has the legalization of the WTO weakened its diplomacy-based negotiating mechanism. With the creation of the World Trade Organization (WTO), dispute settlement has moved to the centre stage of the multilateral trading order. Hence, in this essay I will consider the effects of the new Dispute Settlement Mechanism (DSM) on trade relations. At first, I will illustrate how the DSM operates and how it is different from dispute settlement under the General Agreement on Tariffs and Trade (GATT)....   [tags: essays research papers fc]

Free Essays
2082 words (5.9 pages)

World Trade Organization ( Wto ) Essay

- As discussed above, TPP’s primary objective is to incorporate all negotiating participants under one free trade agreement, which will eliminate tariffs and non-tariff barriers to goods, services, and agriculture. This sounds just like many other trade agreements we already have, such as WTO, NAFTA, APEC, and ASEAN. However, the U.S. still feels the need to support the TPP because they think the TPP would bring economical and geopolitical benefit in the long run, which existing trade agreements cannot provide....   [tags: International trade, World Trade Organization]

Powerful Essays
1255 words (3.6 pages)

The World Trade Organization Essay example

- ... Each institution plays a separate but necessary role in the group’s collective mission of lessening global poverty and improving living standards throughout the developing world. “Together, they provide low-interest loans, interest-free credits, and grants to governments and the private sector in developing countries for investments in education, health, infrastructure, communications, and many other purposes, as well as services in support of those investments.”[2] The committee of the International Monetary fund has the task to facilitate intergovernmental agreements in relation to building on development issues in poorer countries, as well as to advise the boards of governors of both...   [tags: imf, developing countries, world bank]

Powerful Essays
1703 words (4.9 pages)

Anti-dumping is a Necessary Part of International Trade Legislation Essay

- Processes of cooperation and integration between countries are very important in the modern world. At the present time, a profound influence and an interrelation between countries is noticeable. The result of these processes in the future should be a fully free transmission of goods, services and subjects of intellectual property, capitals and human resources. At the same time, there is still a big gap in the level of economic development of countries in the world. This imbalance creates a collision between two different policies of world trade....   [tags: international relations, world trade]

Powerful Essays
1228 words (3.5 pages)

Free Trade And Laissez Faire Policies Essay

- Classical Economics Background Both fathers of economics, Adam Smith and David Ricardo, made a strong case for the implementation of free trade and laissez-faire policies, in opposition to the then-dominating theory of mercantilism, usually associated with France. Smith 's idea of absolute advantage, perfected by Ricardo 's comparative advantage, stated clearly that free trade is a win-win situation, because it pushes nations towards division of labour – today usually called specialisation – in an international market....   [tags: International trade, Free trade]

Powerful Essays
709 words (2 pages)

Fair Trade's Market Based Approach to Poverty Alleviation Essay

- People have been trading since the beginning of time. The exchange of goods is why humans have strived to make new discoveries and why we attach value to goods and services. This has gone on to evolve over time to encapsulate a global system of trade which we are now dependent on to meet our needs. Unfortunately, the system is capitalised on. David Ricardo’s concept of comparative advantages has brought about true Globalisation, affecting every man and woman on the planet with the fluctuation of prices in raw materials....   [tags: fundamentalism, neoliberal market, world trade]

Powerful Essays
1992 words (5.7 pages)

Essay on The World Trade Organization

- “Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favours the few, and not the many.” - Barrack Obama Barrack Obama, President of the United States addressed the consequence that in order for trade to help spur development in the world today, it must not only help The World Trade Organisation is an international organisation whose motive is to promote open and free trade by convincing nations to eradicate import tariffs In addition, the WTO policies free trade agreements, settles trade disputes between governments and organises trade negotiations....   [tags: Barack Obama, Unites States Government]

Powerful Essays
943 words (2.7 pages)

The World Trade Organization Essay

- The World Trade Organisation (WTO) is today seen as one of the pillars of international trade and financial systems of the world alongside the World Bank and the International Monetary Fund, despite being only sixteen years old. With what began as the succession to the previous guidelines and rules set out by the General Agreement on Tariffs and Trade back in 1948, it is now seen as the ‘main unifying force of world trade today’ a key player in both the conduct of trade relations and global governance....   [tags: International Monetary Fund]

Powerful Essays
1996 words (5.7 pages)

Trade Agreements Between the European Union and Developing Countries Essay

- The Uruguay Round Agreements and the establishment of the World Trade Organisation, have strengthened the Multilateral Trading. At the same time, there has been more agreements in the world economy. The European Union has been major driving force behind the force of such agreements This report evaluate and explores the complex structures of recent free trade agreements between the European Union and developing countries, the main factors determining their economic effects, and presents quantitative simulations of the effects of these agreements....   [tags: market barriers,world economy, free trade]

Powerful Essays
2052 words (5.9 pages)

Essay about China Enters the World Trade Organization

- China Enters The World Trade Organisation China has swiftly turned into a world organizer in trade and will merely develop in significance to the global economy. These particulars are established with China's up to date economic statistics raising more than 9% per year and economists' projections of the nation's upcoming China will double its gross domestic product of the year 2000 in the year 2010. The way the Chinese government attained these remarkable economic statistics are during a restoration of Chinese trade strategies....   [tags: economy, exports, market]

Powerful Essays
930 words (2.7 pages)