Why the WTO remains a non-starter
There are always moments in history when the optimists start thinking that the meek might actually end up inheriting the earth. But no such illusions accompanies the conceptualisation and actual formation of the World Trade Organisation (WTO). Even from the days when debates about its composition and structure started, it was very clear that the First World had decided to keep two sets of double standards. One double standard was hectoring the Third World to lower import tarriffs even as it found new ways to keep away Third World imports. The other double standard was to hector and pressurise Third World nations to open their industry and agriculture to global multinationals even as First World farmers were molly coddled with hundreds of billions of dollars in subsidies every year. Unjust and prejudiced regimes are not meant to last long; and no wonder the WTO has spluttered and struggled to survive.
There are always moments in history when the optimists start thinking that the meek might actually end up inheriting the earth. But no such illusions accompanies the conceptualisation and actual formation of the World Trade Organisation (WTO). Even from the days when debates about its composition and structure started, it was very clear that the First World had decided to keep two sets of double standards. One double standard was hectoring the Third World to lower import tarriffs even as it found new ways to keep away Third World imports. The other double standard was to hector and pressurise Third World nations to open their industry and agriculture to global multinationals even as First World farmers were molly coddled with hundreds of billions of dollars in subsidies every year. Unjust and prejudiced regimes are not meant to last long; and no wonder the WTO has spluttered and struggled to survive.
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Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
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IIPM Links
IIPM : The B-School with a Human Face
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