Impact Of Globalization In International Trade

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 …show more content…
The major change is observed in the trade policies of developing nations since 1980s, period due to rapid industrialization and increased in multinational corporations’ expansion to developing counties (Croome 1998; Sharma 2002)). Hence, the need of international platform to resolve the trade issues and challenges among diverse nations was resolved in the form of World Trade Organization (WTO), headquartered in Geneva (WTO 2016). 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