“WORLD TRADE ORGANIZATION (WTO)”

Globalization of Media MCM404

Lesson 28

"WORLD TRADE ORGANIZATION (WTO)"

Note: The World Trade Organization (WTO) has become an extremely controversial name. For many, the

name has come to symbolize the biased, unjust manner in which the big and powerful nations force smaller

and weaker nations into accepting one sided decisions, terms and quotas affecting trade, jobs, exports and

income levels of hundreds of millions of people in developing countries.

On the other hand, WTO is also recognized as the first successful attempt by nations of different sizes and

types being able to work together to enforce a system of global trade that is acceptable and practical for all

members of WTO, a level of acceptability which is difficult to achieve. The fact that the vast majority of

nation states in the world have already become members of WTO or want to become members is cited as

proof that, despite the criticism, WTO brings medium and short-term benefits to most, if not all nations.

Students are advised to search the Internet for a wide range of different opinions about WTO. At the same

time, to obtain a reasonably balanced understanding of the background from which WTO has emerged and

to note its advantages and positive features, the text of this handout is excerpted from the book titled: "The

Role of the World Trade Organization in Global Governance", edited by Gary P. Sampson, published by

United Nations University Press, Tokyo, New York, Paris, 2001. E-mail: sales@hq.unu.edu, website:

www.unu.edu.

This handout is taken from the chapter titled: "overview" by Gary P. Sampson, Professor of International

Economic Governance, Institute of Advanced Studies, United Nations University.

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