In the past, rich nations have tricked the poor nations into opening markets for their services and manufactured products with empty promises....with post-dated rubber cheques. At the WTO meeting in Hong Kong, the Zambia trade minister Dipak bluntly said: "We're not interested ....in posted cheques with no money in the bank.....". The poor nations will not be fooled again.
The USA, Australia, New Zealand and Canada refused to remove trade barriers, farm subsidies, export subsidies, quota for imports, .......while asking for wider openings of markets from poor nations. This grossly unfair trade practices are being challenged.
The WTO is unable to cut trade barriers and expand global trade....unable to fulfil the stated aim to promote free trade, and to reduce trade barriers. Instead, the rich nations use it as an instrument to perpetuate their unfair trade practices against the poor nations.
WTO is useless...... to the poor nations. However, poor nations are forced to remain as members as non-participating members are subject to a de facto embargo.
Bad boy.
The stated aim of the WTO is to promote free trade, stimulate economic growth and hence make people life more prosperous. (in practice, it serve the rich nations better.)
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The WTO also promotes economic globalization and free trade, which anti-globalization activists consider problematic. WTO treaties have been accused of a partial and unfair bias toward multinational corporations and wealthy nations.
While the WTO provides equal opportunities for nations to speak, and encourages good governance, small countries in the WTO are capable of weilding little influence. The WTO itself is criticized as being the tool of powerful lobbies. And while membership is voluntary, critics say that not joining places the non-participating nation under a de facto embargo, creating an international system of forced economic rules on poor nations.
Despite the WTO aim of helping the developing countries, the influential states in the WTO do focus on their own commercial interests. The needs of the developing countries are often ignored.
