Economics & Business

WTO increasing human sufferings

Pakistan Economy Watch has said that developed countries and WTO are again pushing third world to accept Doha Development Round due to unending suspicions of member states. WTO wants to abolish time-tested economic systems around the world claiming that their model will help improve quality of life of the poor. In fact, it is increasing sufferings of humanity, said Dr. Murtaza Mughal, President, Pakistan Economy Watch.

Pushing Doha Round before study of negative impacts is premature
The rich states aim to prosper at the cost of poor of the world and underdeveloped states are resisting it since seven years, he added. He said that underdeveloped countries should not be pushed to accept Doha Round as debate on its pros and cons is afoot on almost all the important forums.

Many countries are suspicious of hidden agenda of WTO with Brazil, China, Argentina and India on the top. They consider it against their national interests, he said adding that this body is discrediting export-led development. The WTO is fundamentally flawed; it promotes growth and consumerism at any cost and considers humans as consumers. “This approach is contributing towards political and economic instability and hurting global environment,” said Dr. Murtaza Mughal.

It stresses deregulation, information and communication pushing the less developed countries and have-nots to the wall and increasing difference between the rich and poor. Developed countries are safeguarding the interests of corporations in the name of Intellectual Property Rights while poor countries are deprived of their time-tested wisdom. Centuries old local wisdom is being discredited systematically.

To avoid stringent laws at home, multinationals are investing in underdeveloped countries in way that is creating environmental, health and other hazards. In last decade, the world has witnessed a surge in unemployment, crimes, political turmoil, pollution and food shortages that is seen by many as outcome of the ideologically failed policies of WTO.

The controversial WTO is also facing charges of corruption and being undemocratic. There access of many stakeholders to its meeting is denied and highly developed countries enjoy a significant clout despite one-country one-vote structure. -Pak Economy Watch

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Omer Azam

Omer Azam is Social Media Marketer, very active on propeller; he is very much interested in International Politics.

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