Global Trade

In: Other Topics

Submitted By Kathewine
Words 324
Pages 2
Global trade affects many aspects of life. It can impact everything from the environment to your wealth and well- being of people around the world. It is not just trade that is on the agenda but environment and human health. This is one of the objectives that WTO or world trade organization aims to promote.

As defined, WTO deals with the global rules of trade between nations. Its benefits are most commonly categorized to 10 aspects, namely: peace, disputes, income, rules, cost of living, choice, growths and job, efficiency, lobbying and good government. Our country, the Philippines, has been a WTO member since January 1995. Questions exist since then whether our country has derived the supposed to be benefits by joining this organizations. Is it really beneficial to the Philippines?

One of my readings stated that political analyst, Walder Bello, described the Philippines membership on the organization as "a multilateral punishment". As for my opinion, I believe as well that Philippines is better off not joining the WTO. One obvious reason is that more Filipinos patronize foreign products than the local one. It is set to their mind that foreign products provide desired service or glamour expected of a product or brand than products coming from local.

The philippines is a third world country and I notice that WTO hurts the third world. WTO rules force third world countries to open their market to rich country, multinationals, and abandon effects to protect small domestic industries. In agriculture, the opening to foreign imports, soon to be imposed on developing countries, will catalyze a massive social dislocations of many millions of rural people.

The policies of the WTO impacts all aspects of society, but it is not a democratic, transparent institution. This just mean that WTO undermines democracy. Citizen input by customer, environmental, human…...

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