Pros And Cons Of Wto

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The World Trade Organization (WTO) is an organization designed to negotiate and establish rules of trade between nations. According to WTO.org, “the World Trade Organization — the WTO — is the international organization whose primary purpose is to open trade for the benefit of all”. The WTO is comprised of 164 members currently. These members are countries and territories who are involved in the negotiation agreements, 117 of which are developing countries and territories. The organization was founded on January 1, 1995, and currently holds its headquarters in Geneva, Switzerland. The Trans-Pacific Partnership (TPP) is a trade agreement that strives to support american jobs and businesses that may struggle in the corporate world. According …show more content…
They aim to cut cut costs in living and doing business internationally. Additionally, they argue to achieve equality by raising the standard of living, stimulating economic growth and employment, helping countries develop and giving weaker nations a stronger voice. Lastly, they try to achieve world peace by settling disputes, reducing trade tensions, encouraging good governance, and encouraging health and stability for the people and environment. Similar to the WTO, the TPP strives to even the playing field between countries as well, however more for the benefit of american workers struggling with corporate competition. They eliminate over 18,000 taxes on made-in-america products, protect workers and the environment, and encourages good governance. Both agreements encourage free trade and eliminate barriers that restrict importing and exporting, however the WTO does it to grow the economy worldwide whereas the TPP aims to help American business people. Nonetheless, both believe that free trade is vital to the wellbeing of world economies because it sparks economic growth. It is believed that all countries have assets that others can benefit from trading with. People advocating for free trade believe in the principle of comparative advantage- that countries will prosper best by concentrating on what they produce best, and trading for the rest. This way, all countries can …show more content…
The WTO is censured for allegedly being written by and for corporations, benefiting only them in negotiations. Additionally, 86% of the worlds resources is going to rich countries, benefiting mostly those who can afford to produce and import. People also do not approve of the fact that the WTO has universal laws, which undermine local level decision making that may be able to make more beneficial laws and policies for each unique territory. The TPP and free trade is deplored because of the effects of NAFTA. It is believed that NAFTA resulted in fewer good jobs, causing family farms and smaller businesses to struggle. It also led to more difficult living situations, with less stable food systems, less access to affordable medicine, abuse of human rights, and a growth in social inequality. Some people link NAFTA to the cause of the conditions leading up the an economic emigration crisis and false drug war. Additionally, the issue of money arises due to the fact that when a government is sued and deemed in violation of NAFTA, penalties are paid from the public purse. Because NAFTA was the original free trade agreement, and TPP is an expansion package of NAFTA, TPP is rejected by

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