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Ed Webb

The WTO 20 years after the 'battle of Seattle' | Business and Economy | Al Jazeera - 0 views

www.aljazeera.com/...rs-after-the-battle-of-seattle

IR opinion WTO trade globalization sustainability

shared by Ed Webb on 21 May 21 - Cached
  • On the 20th anniversary of the protests against the World Trade Organization (WTO), evidence of its harm to workers, healthcare, farmers, and the environment – and particularly to developing countries – has proven its critics right.
  • At the time of the protests, the WTO was less than five years old. But critics had already seen how the largest corporations in the world had succeeded in using its founding – and the good name of trade in promoting prosperity – to achieve a new set of agreements covering not just trade in goods but also trade-related investment measures, trade-related intellectual property (IP) rules, agriculture and services. These new agreements, far from the original goals of multilateralism, gave new rights to trade (which are exercised by corporations) and constrained government regulation in the public interest. 
  • corporate elites hijacked “trade” and rigged the rules to distribute income upwards, while reducing protections for people who work. Highly paid professionals (like doctors) are protected (by being able to regulate their own licensing) and businesses are given market access rights and predictability. Meanwhile, workers are forced into unfair competition without a minimum floor for protections, and developing country workers have been kept at the lowest levels of the global value chains
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  • As rich countries have been allowed to maintain their level of agricultural subsidies – which are mostly handed out to large producers, not family farms – developing countries have not been allowed under WTO rules to subsidise food production for domestic consumption to guarantee food security, nor to protect their farmers from unfair dumping.
  • subsidies for the environmentally damaging production of oil and gas remain undisciplined, while countries have successfully sued each other in the WTO for directing subsidies towards greener fuels, especially if they try to create jobs at the same time.
  • The environment has suffered as countries use environmental exploitation as a comparative advantage, and trade is responsible for a growing percentage of the greenhouse gases that contribute to climate change.
  • supporters of the WTO were able to get developing countries to agree to a new round of trade talks only by claiming it would be a “development” round – ie, one that put the needs of developing countries at its heart.  Since then, unfortunately, developed countries have never delivered on their promises to address the constraints that bad WTO rules put on development
  • most developing countries that have gained from trade have done so by exporting to China, whose growth is usually attributed to its divergences from the WTO model. 
  • At a time when most conversations regarding Big Tech are around the need for stronger antitrust and tax enforcement, and how their model of surveillance capitalism should not be allowed to shape the contours of our media, democracy, human rights, education and social relationships – or even how to break them up – they are working through the WTO, without public debate, to gain a new constitution that will consolidate their power and profits.
  • the problem with the dispute system is that it adjudicates according to a set of rules guided by corporate interests
  • The crisis is that people around the world have suffered through nearly 25 years of a damaging pro-corporate trade model, encapsulated by the WTO, and the domestic policies of austerity that have led to uprisings on four continents, mass migrations, and the election of right-wing governments in many countries.
  • We all need a global economy that facilitates decent jobs, access to affordable medicines, healthy food, and a thriving environment. Nearly all governments agreed to this mandate through the Sustainable Development Goals (SDGs) and Agenda 2030 in 2015. The rules of the global economy should be shaped around ensuring that trade can help achieve these goals, but at the minimum, it should not constrain governments from doing so.
  • The solution to the current conflicts on trade policy is not a false nationalism that nonetheless expands corporate control, nor a defence of the current failed corporate system. We need a wholly different system than that embodied in the WTO, just as the protesters clamoured for in Seattle 20 years ago. That will require a multilateral vision of ecological stability, shared prosperity, and leadership committed to that vision. Until then, we can expect more crises. 
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