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Rutgers Model United Nations 2 - IDIA

Rutgers Model United Nations 2 - IDIA

Rutgers

Rutgers Model United Nations 21 Conclusion The impact of the WTO on international trade is unprecedented, and the policies of the organization have both promoted and stifled trade throughout the world. Despite the progress made by the WTO since its inception in 1995, there are numerous flaws in its structure and implementation that prevent it from furthering its cause of trade liberalization. While the WTO's legislation includes provisions for multilateral FTA establishment and reduction of NTBTs, it doesn't make the organization completely effective in every unique situation. More importantly, there is a limit to the jurisdiction of the WTO; even if nations become members of the WTO, there are countless exceptions to rules they do and do not have to abide by. It is also worth noting that the WTO does not include all nations of the international community, which significantly limits its scope of power. The concept of "trade creation-trade diversion" remains perhaps the most pressing issue on the current agenda of the WTO, as it demonstrates that there is no panacea for the entrenched problems of global trade. 65 In some cases, trade liberalization is the key to LDC development, while in others it is merely one of a few options. By directly reducing taxes, lowering NTBTs, and negotiating multilateral FTAs the WTO continues its efforts with the assistance of the IMF and the World Bank. The international community must revisit the very core of international trade policy if it hopes to further integrate and empower LDCs to combat poverty and develop key infrastructure. The rising world population will not make the task any easier as time goes on, which adds an additional sense of urgency to current and future actions. 65 Nkuepo, Henri J. "Preferential Trade Agreements, Trade Creation and Trade Diversion."WTO. Web. 10 Mar. 2012. .

Rutgers Model United Nations 22 Discussion Questions • Is your state an LDC? If so, what economic role does it play in the international market? If not, on what level does your state participate in international trade? • In what ways does/will trade liberalization affect your state? Will it spur economic growth or will it disadvantage your domestic market? • Does your state have a specific position on trade liberalization and FTAs? • What is your state's position on the WTO? In your opinion, would it benefit from being a member?

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