What do you think of the WTO?

[HamdenRice]

Just curious to get the consensus here -- not that that is very mysterious or unknown. But here's the additional request: In addition to saying what you think of it, could you please add a bit about what you think it actually is, and what it does, and how?

And please, no peeking at Wiki or my other posts on the WTO this morning.

[liberalmuse]

1. As I remember...

and I could have this totally fucked up, - it is a conglomerate of wealthy countries in conjunction with the IMF and World Bank that loan money to developing countries so they can produce goods and trade them in order to help them compete on the world market. What actually happens is less developed countries end up in debt to the World Bank - or money loaned by the more developed countries, so they need to use more of their natural resources and cheap labor to pay off their mounting debt. Lands end up being ravaged and farmers displaced. The basic idea is to free up trade and make it a better, more equitable world by opening up trade to countries who normally couldn't get in on the game, but in the end, it doesn't really benefit the poorer nations so much as it does the wealthy nations.

On edit: I did not look at Wiki, and I'm old with the memory going, so give me that. My opinion of the WTO is in my answer if you read between the lines.

[HamdenRice]

2. That's a pretty good description of part of the World Bank

but not actually what the WTO is involved in except the freeing up trade part.

[liberalmuse]

3. Then I guess I'd better do some research.

Or ask my nephew. I went off on a World Bank tangent. For some reason, I thought they were connected. All I pretty much get is that it's a group of wealthy, powerful individuals exploiting the poor.

[AllentownJake]

4. They are a body that enforces existing trade agreements

and works on liberalizing trade agreements around the world. When their is a dispute between two nations over a trade agreement it get's settled in the WTO. They have no teeth other than countries agreeing to abide by their decisions or giving a country a remedy to reply to something that is a violation.

My thoughts are they can't enforce agreements if they aren't entered into to begin with.

[HamdenRice]

5. That's a good chunk of it

But actually negotiating trade agreements is a bigger part of what they do than in your description.

[AllentownJake]

6. They are really not bad nor good

It's the US's responsibility when sitting at a negotiating table to negotiate the best deal for the American people (not American business).

If we are getting screwed by trade agreements it isn't the WTOs fault.

Also like any other treaty American's sign, it can be easily ignored when it is suits are purpose. See missile defense systems.

[HamdenRice]

7. Agree. I think of it as a smoke screen in a way

A lot of what "the WTO" is, is really the US Trade Rep. They make deals that favor US corporations, then go home and say, we had to do it because of the WTO.

In reality, the US has disproportionate power over the WTO outcomes. A lot of WTO protesters would be more effective protesting the US Trade Rep office in DC.

[AllentownJake]

8. Yes but when you throw the word World in front of something

It has more of a Federal Reserve, World Bank, Rothschild, Tri-lateral commission etc ring to it to attract the conspiracy nuts. Alex Jones makes a living on that.

People would be much more effective protesting their congress critter's office. The WTO can come up with any agreement it wants to, it is isn't enforceable unless it passes congress as a law or is ratified by the Senate as a treaty.

[Sinti]

9. It's an institutional tool that nations currently use

to help facilitate trade among themselves. They help develop the rules by which the players in the global economy will play. It also gives a forum for redress of grievances. This is my understanding of what it is, in the most basic sense. Let me know if I'm off base.

As to what I think of it, it's a tool. Every tool/technology is completely neutral. It can be used for wonderful things - it can be used for terrible things.

Global trade, in and of itself, is a very good thing if properly implemented - it's merely an extension of 'trade' which is a wonderful tool for improving life. We've been doing it since before we could write. A the same time, it can be used for horrible things. Global trade can be a monstrous thing, if it is used by a few to exploit the many and pit peoples against one another.

It's sad that we have a lot of great tools, as human beings, but we don't seem to use them properly to uplift all of human kind. We need to work on the root cause of why we use them the way we do.