What are the main issues in world trade? Discuss these issues briefly along with their solutions.
The World Trade Organisation (WTO) essentially protects multinational corporations based in the North and acts as a tool of rich and powerful countries - notably the US, the EU, Japan and Canada.
Although the majority of other WTO members are developing countries from Africa, Asia/Pacific and Latin America, many of them have little say in decisions that are taken at WTO meetings. They don't have enough to offer from an economic standpoint to have any real power.
Many of these countries are not even invited to key meetings, which are invitation-only (although no one knows exactly how these invitations are handed out, since this is done in a completely non-transparent way
Corporations are driven by the bottom line - profit. Environmental, social and development concerns are distant priorities, and tend to be a corporate focus only when they bring commercial advantage. Given this narrow agenda, the trend of powerful business lobbies influencing government positions at the WTO is worrying.
It is not just in the case of genetically engineered food, where you can see a corporate
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