Criticisms of world trade organisation, Microeconomics

Criticisms of World trade organisation: 

There are critics too of the WTO. It is believed that the WTO will emerge out destructive of biodiversity and people's livelihoods by encouraging over-exploitation of natural resources, creating pollution through increasing transportation, habitat loss by infrastructure development, and so on by forcing countries to: 

i) relax export rules that prohibit or restrict the exploitation of forests, fisheries and minerals; 

ii) encourage export policies that spread monoculture; 

iii) relax import rules that control the unhindered dumping of all kinds of products, including polluting and hazardous wastes; 

iv) adapt intellectual property rights regimes; and 

v) accept with few conditionalities, investment in several sectors by foreign firms and industrialists with little regard for its ecological and social impacts.  

To sum up, WTO has been in action for a little over decade now. During this ime, the WTO has proved that it is very different from its predecessor, GATT. GATT was toothless whereas WTO has teeth - its disputes settlement mechanism has been an outstanding success and has brought to book even mighty US in several cases.  

Posted Date: 11/15/2012 1:34:59 AM | Location : United States

Related Discussions:- Criticisms of world trade organisation, Assignment Help, Ask Question on Criticisms of world trade organisation, Get Answer, Expert's Help, Criticisms of world trade organisation Discussions

Write discussion on Criticisms of world trade organisation
Your posts are moderated
Related Questions
You are interested in the outcomes of the children in your workload in general functioning and school performance, and whether they are related. As a result you decide to collect s

what is the mass of a body when it is taken to the moon

a. Suppose the demand for saline solution is perfectly inelastic for contact lens wearers. If the government imposes a tax on saline solution, what occurs? Be sure to tell what hap

How to solve questions of endowments?

Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore

How does the GPI adjust for increasing U.S. income inequality? Starting with the category of Personal Consumption Expenditures, the GPI adjusts for enhancing income inequality

The demand functions for two related commodities are expressed as follows    Q 1 = (12P 2 3/4 ) / (P 1 1/2 ) Q 2 = (24P 1 2 ) / (P 2 3/5 ) Where Q 1  and Q 2 are d