Which among the following are criticisms given against World Trade Organization (WTO) ? (a) It is not a democratic and transparent institution. (b) It has domination of international trade by rich countries for the benefit of their individual interests. (c) It encourages a ‘race to the bottom’ in wages by pitting workers against each other rather than promoting internationally recognized labor standards. (d) It is seeking to privatize essential public services. Codes :
(a), (b), (c) and (d)
(a) Critics say the WTO is not democratic or transparent: formal decisions are by consensus, but in practice deals are shaped in informal 'green room' meetings of a few powerful members, and dispute panels sit in closed session. Valid criticism.
(b) Rich countries are said to dominate the agenda, keeping their farm subsidies while pressing developing countries to open markets, and agreements such as TRIPS favour patent holders in developed economies. Valid criticism.
(c) WTO rules contain no labour standards (the 1996 Singapore Ministerial left them to the ILO), so countries can compete by holding down wages, which critics call a race to the bottom. Valid criticism.
(d) Under GATS, members are pressed to liberalise services, and critics argue this pushes privatisation of essential public services such as water, health and education. Valid criticism.
All four are criticisms commonly levelled against the WTO.
Hence, (a), (b), (c) and (d).
Similar Questions
Which of the following are the outcomes of the Sixth Ministerial Conference of WTO which was held at Hong Kong in December 2005 ?
Select the correct combination :
(i) Resolve to complete the Doha Work Programme fully and to conclude negotiations in 2006.
(ii) Amendments to TRIPS agreement reaffirmed to address public health concerns of developing countries.
(iii) To continue export subsidies in agriculture upto 2018.
(iv) Duty free, quota free market access for all LDC’s products to all developed countries.
Codes :
The important objectives of WTO are :
(i) To improve the quality of technology in the member countries.
(ii) To improve the standard of living of people in the member countries.
(iii) To ensure full employment and broad increase in effective demand.
(iv) To enlarge production and trade of goods.
(v) To increase trade of services
Codes :
Important Questions from World Trade Organisation (WTO)
- Intellectual property rights regime is managed by :
The Government of India appointed ______ as the country's G20 Sherpa in September 2021.
Nearly ___________________ countries of the world are currently members of the WTO. (as on June 2014)
Sequence the following different settlement stages of the WTO dispute settlement System.
A. Retaliation
B. Implementation
C. Panel Review
D. Appellate
E. Consultations
Choose the correct answer from the options given below:
Which combination of the following is correct with regard to World Trade Organization (WTO) :
(a) WTO initiates peace process among the member countries to enhance international trade.
(b) WTO avoids the task of “Settlement of Disputes” among the member countries.
(c) WTO administers the “Trade Review Mechanism”.
(d) WTO cooperates in an appropriate manner with the IMF and the World Bank.
Codes :
