To What extent has the world trade Organisation achieved its Essay

To What extent has the world trade Organisation achieved its objectives What are its greatest failures and how might these be a - Essay Example This paper is presented in four main parts. The first part of this paper provides a brief overview of the WTO and its objectives. The second part of this paper considers the arguments suggesting that the WTO has met its objectives. The third part of the paper analyses the arguments that suggest the WTO has not met its objectives. The final part of this paper will consider the greatest failures and identify where the WTO can go from there. ... Body, the Preamble to the WTO must be constructed as to include an objective for sustainable development.3 The cumulative value of the objectives contained in the Preamble to GATT 1994 can be described as an overall objective for promoting shared advantages among the international community for economic and political cohesion.4 Those who argue that the WTO has achieved its objectives in terms of international cohesion argue that the WTO has represented an automatic trajectory toward international cooperation. Those who argue that the WTO has failed to achieve its objectives are generally sympathetic toward developing countries and argue that the WTO has only succeeded in highlighting the inequities between nations and strongly favours developed economies.5 This research paper considers both sides of the debate and will therefore be presented in four parts. The first part of this paper provides a brief overview of the WTO and its objectives. The second part of this paper considers the arguments suggesting that the WTO has met its objectives. The third part of the paper analyses the arguments that suggest the WTO has not met its objectives. The final part of this paper will consider the greatest failures and identify where the WTO can go from there. Background and Overview of the TWO and its Objectives The WTO has its origins in the immediate aftermath of the Second World War in which a period of global economic depression followed. Leaders from Britain and the US led the charge and held a conference at Bretton Woods in the US in 1944 as a means of drafting the charter for the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD) also known as the World Bank. The following year, the US and Britain moved for the charter