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The WTO and Globalization After Seattle


            Reality Check: The WTO and Globalization After Seattle.
             This article is based around the WTO and the effects it has had around the world, especially regarding globalization. Opponents of the idea of globalization fear that it is simply a front for large industrial governments and corporations to push the Anglo-Saxon lifestyle and exploit low wages, at the cost of the people. I personally feel that this notion is outrageous and we should only be so lucky to have an organization such as the WTO that can help to advance the world as a whole. The article then goes on to talk about how developing countries may not get as much out of the trade agreement as the industrialized countries, because of lower status in the world scene. I don't think this is necessarily true because the article then goes to talk about how within the Uruguay developing countries for the first time played a key role in the outcome of the final round. Figures also back up the fact that developing countries are not being neglected, for instance, the share in world trade for developing countries has increased 2.2% between 1994 and 1998. Number also show that foreign direct invest has increased within these countries by 10.3 from 1992 to 1998. This goes to show that progress in being made even if it is not a huge jump. The article mentions a possible way to increase global income is by lower industrial tariff by 50% , and by doing this some 270 billion dollars of revenue would be generated and 95% percent of that would go towards developing countries. The final point in the article is about the need to not rush into the next round. The reason for this is the need for new ideas to come to the table, and to refocus on the original goal of the WTO is to provide a "human face" for the trading system. The world would definitely not be in as good of standing as it is, if not for the WTO. This article was a excellent piece on the WTO and the factor that go into it.


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