The Problem with Global Trade 2. The World Trade Organization (In conversation with Alexandra Strickner)
Many countries that are considered “poor”, upon closer inspection, turn out to be not so poor. It’s just that there’s something about the rules of global trade that make it so these countries remain where they are, stuck in the production of primary goods with few avenues for proper industrialization. What role does the WTO play?
However, to anyone who has been paying attention, the way global trade is set up may actually be one of the reasons these countries remain poor. The playing field is far from level, and there are multiple mechanisms that work in concert to ensure it remains that way. To try and understand how the global trade system works, and to find out what can be changed, we had a series of conversations with some experts. In all these conversations, we aimed to understand how the current global trade system came to be, how it works, and how we can make it more equitable, just, and fair.
Image source: B.S. Halpern (T. Hengl; D. Groll) / Wikimedia Commons