What Is Good About the WTO

Introduction

Having read the criticisms of the WTO, one might think that this section would be short. To a degree it will be, primarily for two reasons.

1. Most the issues have already been dealt with in Criticisms of the WTO
2. By default the WTO is a good thing. By this I mean that a priori a body to regulate world trade is a good idea for the following reasons: It is stabilizing, it combats protectionism, it can help poor less powerful countries get a fairer deal from the richer more powerful ones (since the WTO promotes transparency and facilitates coordination which are both of greater to benefit to poorer and less powerful countries than to rich and strong countries). Thus the whole question centres on the criticisms of the WTO. If they are unjustified then one should be a supporter, if they are justified then one is against the WTO as it now is (of course there is a whole spectrum of opinion possible depending on how critical one is).
3. Many of the arguments for the WTO are available already on the WTO website and need no elucidation (see point 1).

Last Updated: 2003-Jan-31
Created: 2002-Jan-20
IP Policy