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Q:Discuss the politics of World Trade Organization and Globalization ?
Ans: World Trade Organization and Globalization are the modern manifestation of Colonialism because both of them aim at exploiting the national resources and the manpower of developing countries.Firstly in 1995 USA masterminded the establishment of WTO although there was no need of it in the presence of GATT,US was the main lobbyist behind WTO after Uruguay Round of 1995-94.Subsequently US pressure brought Agriculture into GATT-WTO system in 1995 and then brought services under its coverage.The mechanization of WTO is in fact,an instrument which aims at globalization of free trade and deregulation.The need and utility of WTO and globalization is seriously questioned by the criteics in the light of statistics.They argue that frin 1948 to 1995 without WTO the world trade expanded 87-fold from $124 billion to $ 10,722 billion.This increase was recorded under the GATTarrangement only.The founding of WTO in 1995 was neither in response to any economic crisis such as that was recorded in 1930s nor it was needed to achieve world peace.In fact,US wanted a more effective framework than GATT to control the economies of countries around the globe.Thus US succeeded in establishing WTO and achieve its objectives.
Ans: World Trade Organization and Globalization are the modern manifestation of Colonialism because both of them aim at exploiting the national resources and the manpower of developing countries.Firstly in 1995 USA masterminded the establishment of WTO although there was no need of it in the presence of GATT,US was the main lobbyist behind WTO after Uruguay Round of 1995-94.Subsequently US pressure brought Agriculture into GATT-WTO system in 1995 and then brought services under its coverage.The mechanization of WTO is in fact,an instrument which aims at globalization of free trade and deregulation.The need and utility of WTO and globalization is seriously questioned by the criteics in the light of statistics.They argue that frin 1948 to 1995 without WTO the world trade expanded 87-fold from $124 billion to $ 10,722 billion.This increase was recorded under the GATTarrangement only.The founding of WTO in 1995 was neither in response to any economic crisis such as that was recorded in 1930s nor it was needed to achieve world peace.In fact,US wanted a more effective framework than GATT to control the economies of countries around the globe.Thus US succeeded in establishing WTO and achieve its objectives.
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