8.2.3 Protests against Globalisation and WTO

8.2.3 Protests against Globalisation and WTO

We have already read that Trade is crucial to economic and livelihood development of people. It remained so till the advent of industrial revolution marked by mass production with capital intensive technologies. It has successfully crippled the traditional labour – Intensive technologies which addressed needs of domestic markets in the developing countries. Armed with technology and money, the West had to look for new markers beyond their borders. The National corporates became Multinational Companies (MNCs) to for this purpose. International Trade regulations through WTO is sought to be used to serve the commercial interests of the MNCs. This anti-globalisation movement ran counter to the globalization of corporate capitalism.

The WTO failed to provide a democratic platform to address fair trade, human rights and sustainable development for all, not just for the rich west which with 20% global population has access to 80% global resources, making poverty as the birth right of millions of people in the developing countries.

The MNCs are considered as “ruling elites” of the WTO and Bretton woods Institutions like the IMF, World Bank, IBRD, etc.

The colonial powers of the Europe had already raped the Africa, plundering all its natural resources besides elsewhere. The castles of the west were built on the riches looted from the third world. International trade is seen as an extension of the concerted efforts of the west to continue their piracy.

Free trade for all is an intelligent way of plundering the wealth of the poor. The developing countries cannot protect themselves against the on-slaught of the MNCs through WTO in core areas like agriculture, health and environment. While the west has been protecting its agriculture, it wants the governments in the developing nations to withdraw protection given to domestic agriculture. Agricultural subsidies are more in the west than in the east.

The USA leads the west in this regard as it enjoys what is called the “dollar hegemony” since most international trade transactions are done with US dollar only. It had successfully used the Bretton wood system and the Oil Producing and Exporting Countries (OPEC) dollar – only trading system towards this goal.

What is being sought by those who opposed WTO is unrestricted migration and abolition of all national border controls. They are against protectionism by all the countries and call for fair trade that would benefit everyone.

Last modified: Saturday, 24 December 2011, 7:03 AM