The World Trade Organisation Essay

555 words - 3 pages

Economic Policy Seminar Short Report

 
  The
 World
  Trade
  Organization
 (WTO)
 is
 an
 organization
 that
 intends
 to
  supervise
  and
  liberalize
  international
  trade.
  Essentially,
  the
  WTO
  is
  a
  place
  where
 member
 governments
 go,
 to
 try
 to
 sort
 out
 the
 trade
 problems
 they
 face
  with
 each
 other.
  At
 its
 center
 are
 the
 WTO
 agreements,
 negotiated
 and
 signed
 by
  the
  majority
  of
  the
  worlds
  trading
  nations.
  These
  documents
  provide
  the
  ...view middle of the document...

  It’s
  important
  to
  put
  emphasis
  on
  the
  poor
  economic
  environment
  since
  2008
  in
  major
  developed
  economies
  resulting
  in
  high
 rates
 of
 unemployment
 and
 this
 could
 traduce
 in
 some
 resilience
 to
 accept
  new
 trade
 liberalization.
 Unlike
 in
 the
 past,
 Developed
 Countries
 are
 not
 able
 to
  steer
 the
 negotiations
 in
 a
 desired
 directions
 because
 of
 the
 reasons
 mentioned
  above
 as
 well
 as
 the
 formation
 of
 a
 number
 of
 issue-­‐based
 Developing
 Countries-­‐ alliances,
 which
 lead
 to
 a
 deadlock.
  This
  variety
  of
  geopolitical
  and
  economic
  circumstances
  has
  made
  decision-­‐making
 at
 a
 multilateral
 level
 difficult
 to
 governments.
 As
 a
 result
 many
  governments
  are
  now
  turning
  to
  plurilateral
  agreements
  in
  an
  effort
  to
  try
  to
  open
 trade
 in
 a
 way
 that
 they
 can’t
 do
 at
 WTO
 in
 a
 multilateral
 way.
 This
 is
 not
  new
  for
  the
  WTO,
  since
  it’s
  formation
  there
  has
  been
  a
  proliferation
  of
  non-­‐ multilateral
  agreements
  and
  the
  WTO
  itself
  can
  be
  considered
  as
  a
  set
  of
  plurilateral
  agreements
  since
  does
  not
  involve
  all
  countries
  in
  the
  world.
  Previous
  multilateral
  trade
  rounds
  suggest
  that
  plurilateralism
  might
  carve
  a
  path
 back
 to
 multilateral
 negotiation ...

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