What are the issues facing the WTO in 2006 Essay

What are the issues facing the WTO in 2006 - Essay Example change liberalization aimed at the economic development of uglyer countries through export growth hangs in the balance, with the United States and European Union poised as spoilers.These are the main issues facing the WTO in 2006. This has arguably been the most hypercritical year in the history of the organization. The founding principles of the WTO trade liberalization that yields a rising tide that raises entirely ships and the fair and timely resolution of trade disputes hang in the balance as richer countries are indisposed(p) to proffer greater access to their markets in exchange for access to markets that may lack the capacity to fully reciprocate the benefits. In 2006, the question of whether truly free trade between rich and poor countries is til now possible, assuming countries act in their self interest, is perhaps more palpable than it has ever been before.As rank in the WTO increases, the effectiveness of the trade body in living up to its founding purposes will reach increasingly scrutinized. Nevertheless, the benefits of membership in the organization are clear for both rich and poor countries alike. bandage lowering trade barriers has been perceived as a greater benefit for poor countries, the ability of wealthier countries to effectively resolve disputes, with real teeth behind the adjudication of trade disagreements, has made membership desirable. The issues that subscribe to arisen in 2006 have made clear that the WTO is here to stay.The promise of the WTO for poor countries has been the ability to boost exports for manufactured and agricultural products, which fly the coop to be the main focus of production for less developed countries. Several years after blind drunk countries agreed to forge an international trade system in which less developed countries could thrive, little spirit has been achieved. Rich countries promised 41/2 years ago to make the global trade sys tem fairer for poor countries, changing rules to help them reap the rewards of