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Wto and Emerging Economies

In: Social Issues

Submitted By llooaa55
Words 801
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The World Trade Organization (WTO) was established 20 years ago in 1995 with the aim of creating a prosperous and unified global trading block. To date, the organization has yet to achieve this goal. Thus, the threat of the irrelevancy of the WTO is not far, as we see more unilateral and regional trade agreements being established. This is a result of the WTO reaching a period of impasse. Moreover, new rising powers such as Brazil, China, and India must maintain a careful balance as they negotiate their way to the top (Narlikar, 2010). This analysis seeks to answer the following question: will rising powers integrate into today’s world trade order? This analysis will begin by discussing how the emergence of the developing world within the WTO has affected the institution, followed by a discussion on the resistance shown by developed nations in welcoming emerging economies into the international arena.

The emergence of developing economies has had positive and negative impacts on the effectiveness of the WTO. The positive impact, as Narlikar explains, is the WTOs ability to distribute power on a more equal scale to its members. Conversely, a multipolar system with several leading positions is one of the primary reasons why the Doha Round is currently in deadlock. By including emerging economies - namely, Brazil, India, and China - in core decision-making processes, we see a greater diversification of ideas. We are also provided with insight on countries that are in different stages of development that have their own distinctive negotiating cultures. These negotiating cultures can present a roadblock, hindering the WTO’s efficiency. Even if the WTO were to implement institutional mechanisms to help overcome the current impasse with the Doha Round, we would still observe no change. In other words, rising powers always pursue the same negotiating strategy regardless…...

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