Rise Of Globalization And Increased On Multilateral Trade Essay

1498 Words Sep 23rd, 2016 6 Pages
Rise in globalisation and increased in multilateral trade raises issues for balance if trade and differential treatment are involved in nations since the post World War II period (Holmes 2003). The efforts of increasing fair trade practices and gaining the balance of similar multilateral trade rights and obligations for all nations in developed and developing countries become a prominent challenge (Khor 1999). The major change is observed in the trade policies of developing nations since 1980s, period due to rapid industrialization and increase in multinational corporations’ expansion to developing counties (Croome 1998). Apart from the role played by WTO in mobilizing and harmonizing international trade activities, disputes on policies of WTO always raised in international media. The main argument raised by the correspondents of developing counties is related to the benefits received by developed countries as a result of international trade agreement of WTO. The paper discusses the comparison of WTO initiatives for developed and developing world to verify the claim that WTO favours only developed work trade activities.

Though, major role of WTO is to facilitate trade and to resolve the disputes of international trade agreements among nations (WTO 2011) but the volume of development in developing countries is very slow and vulnerable as compared to the established state of developed nations (Rena 2008). The major change is observed in the trade policies of developing…

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