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 Discussions initiated by users -  WTO: Is it Good or Bad for the LDC?notify me whenever anyone posts in this discussionSubscribe  
 
From: Suchaputz89  Oct-4 1:32 am 
To: KamberAgaCom unread  (4 of 5) 
 2979.4 in reply to 2979.3 

The WTO as an idea is good for the world. Its success in eliminating trade barriers has created benefit, mainly for developing nations, to be measured in billions of dollars. It's success in eliminating trade barriers is among the more helpful things to happen to the entire world, developing or not.

That being said, there is something about the idea that rampant trade liberalization does not have the least developed countries in mind. If a country has been underdeveloped for years and therefore has no globally competitive industries, it will fare even worse in a globalized world.

The WTO's Special and Differential Treatment provisions have been a well intended way to counter this effect, but they are nowhere near comprehensive enough. The goal of the developing world should be not to cast off the WTO as an unhelpful body, but to draw attention to this problem and recognize that the economics behind many WTO commitments do not have developing nations in mind.

The WTO is good for LDCs particularly because the developing world stands to gain most from an abolition of the protectionist policies of developed nations, but the path towards liberalization is one that must be taken slowly: a lesson that holds doubly true for the world's poorer nations.

 
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From: Zain85  Oct-7 11:19 am 
To: KamberAgaCom unread  (5 of 5) 
 2979.5 in reply to 2979.1 

In my opinion, WTO is both good and bad for LDCs but its negative impact certainly outweighs its positive, according to what we witness today.

I believe that the core problem lies in the fact that LDCs lack strong negotiating capacity and thus fail to participate effectively in the decision-making process. As a result, trade agreements implemented as a result of these negotiations create adverse impacts on their national welfare and deprive them of the benefits that other developed and developing members enjoy. Now why's that you may ask? it's because all the important decisions are made informally in the 'Green Room', where participation is limited to members with bargaining power and adequate representation, criteria that most LDCs cannot meet because they cant afford to send a big delegation to attend those meetings in Geneva, or even if they did, they'll be too fatigued to benefit fully from their presence due to the pressures imposed on them by developed countries to accept rules that may harm their economies in the long run (single-undertaking).

 
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