Criticism of the WTO
Topic: International Trade: Patterns, Ports and the WTO · NCERT: Class 12, Ch 8 "International Trade"
Meaning
The World Trade Organization (WTO), based in Geneva, sets global trade rules and settles trade disputes. NCERT lists three main criticisms of it. First, it widens the gap between rich and poor countries, because powerful nations push their own business interests. Second, developed countries have not fully opened their markets to goods from developing countries. Third, it ignores health, workers' rights, child labour and the environment. These criticisms matter because they explain why many developing countries do not trust the WTO.
Example
India has fought at the WTO to keep its public stockholding of food grains for food security. It won a temporary "peace clause" at Bali in 2013. Separately, the WTO's Appellate Body (its appeal court) has been unable to work since December 2019, because the US blocks the appointment of new judges. This has weakened trust in the system.
Don't confuse with
- Concerns related to international trade: these are NCERT's general benefits and harms of all trade. Criticism of the WTO is about how one particular organisation works.