Hungry For Trade
Today we know that corporations, for good or bad, are major influences on our lives. For example, transnational corporations account for 30 percent of the world output. In this era of globalization, marginalized people are becoming especially angry at the motives of multinational corporations, and corporate led globalization is being met with increasing protest and resistance. Ralph Nader’s quote, “the world doesn’t have free trade, it has corporate managed trade,” might be perceived by some as an exaggeration. However, in all actuality it is extremely accurate. TTNCs are gaining more and more control in the game of free trade. Organizations such as the WTO, IMF, and the World Bank have biven TNCs the capability of exerting control over free trade that has not always been there. While the strategies aren’t nearly as apparent in developed countries, the power TNCs have is more apparent in peripherial countries. The impact the TNCs have on the WTO is staggering. “Transnational corporations have a powerful influence on the WTOs agenda. While it is ministers and their officials who conduct bsiness at WTO meetings, representatives from major corporations are often there to lobby for decisions which help their busi
ness, and they may even be part of the official delegation.” Countries under structural adjustment want changes in the WTO. Madeley feels that countries placed under structural adjustment should receive different treatment in order to take into account the needs of food security of the country. The world is becoming more globalized, there is no doubt about that. While that sounds promising, the current form of free trade are easily accessible to criticism. The interests of powerful corporations are successfully shaping the terms of free trade. In democratic countries, they are shaping and affecting the ability of elected leaders to make decisions in the interest of their people. Elsewhere, they are promoting narrow political discourse and even supporting dictatorships and the stability that it brings them. this is to the detriment of most people in the world, while increasingly fewer people in proportion are prospering. The World Trade Organization is the primary international body to help promote free trade, by drawing up the rules of international trade. The WTO has been criticized for numberous things. Madeley states that the WTO is being very opaque and nt allowing enough public participation, however being very welcoming to large corporations. The WTO serves as an international body on matters that directly affect all citizens of the world and yet it is nto part of the various United Nations bodies, which is arguably a more humanitarian body. Another criticism Madeley states about the WTO is the rule regarding produ
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Approximate Word count = 1045
Approximate Pages = 4 (250 words per page double spaced)
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