There are ten benefits and misunderstandings of WTO trading system (www.wto.org). Ten benefits are (i) The system helps promote peace, (ii) Disputes are handled constructively, (iii) Rules make life easier for all, (iv) Freer trade cuts the costs of living, (v) It provides more choice of products and qualities, (vi) Trade raises incomes, (vii) Trade stimulates economic growth, (viii) The basic principles make life more efficient, (ix) Governments are shielded from lobbying, and (x) The system encourages good government.
In the other side, ten misunderstanding that is mean the costs of WTO are (i) The WTO dictates policy, (ii) The WTO is for free trade at any cost, (iii), Commercial interests take priority over development, (iv) over the environment, (v) over health and safety, (vi) The WTO destroys jobs, worsens poverty, (vii) Small countries are powerless in the WTO, (viii) The WTO is the tool of powerful lobbies, (ix) Weaker countries are forced to join the WTO, and (x) The WTO is undemocratic.
This agreement can not be implemented easily, especially for the developing countries. There are many difficulties and cost of WTO agreement implementation. The problem lies not only with the current negotiating process. The problem is more fundamental: the WTO’s structure, rules, and processes are systematically biased against the interests of developing countries.
In the other side, ten misunderstanding that is mean the costs of WTO are (i) The WTO dictates policy, (ii) The WTO is for free trade at any cost, (iii), Commercial interests take priority over development, (iv) over the environment, (v) over health and safety, (vi) The WTO destroys jobs, worsens poverty, (vii) Small countries are powerless in the WTO, (viii) The WTO is the tool of powerful lobbies, (ix) Weaker countries are forced to join the WTO, and (x) The WTO is undemocratic.
This agreement can not be implemented easily, especially for the developing countries. There are many difficulties and cost of WTO agreement implementation. The problem lies not only with the current negotiating process. The problem is more fundamental: the WTO’s structure, rules, and processes are systematically biased against the interests of developing countries.
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