The international free trade and investment policies and the related WTO agreements played a major role in undermining so many developing countries' economies. The proponents of tese policies, including the EU, are now urging the govenrments of the world to end their resistance to such policies within the WTO.
The United Kingdom is home to a particularly influential services industry lobby, which operates through an organisation called International Financial Services, London (IFSL). Two IFSL working groups, the Liberalisation of Trade in Services (LOTIS) Committee and the High-Level LOTIS Group, constitute a veritable corporate-state alliance.
The controversial General Agreement on Trade in Services (GATS) of the World Trade Organisation has generated major social concern about the implications for the equitable provision of basic public services.
Amongst many other analyses and debates, the more extensive awareness of the active role of the state and of states in the purportedly highly successful 'market economies' in East Asia and South East Asia is bringing discussion of the role of state back into quite mainstream development discourse.
An exciting development in recent years is the number of new South-South inter-governmental alliances that are emerging to defend their interests and challenge the bias of the current global trade and investment regime.
The WTO's General Agreement on Trade in Services (the "GATS") has very much underpinned expansion without regulation and supervision, so the financial corporations had the guarantee that their expansion would be underpinned. But financial services are not the same as other services – they need special supervisory structures.
This sequel to the “Tailored for Sharks” report delves deeper into the role the World Trade Organization (WTO) and its legal system play in the corporate architecture that benefits and protects interests of Transnational Corporations (TNCs); details concrete examples of TNCs behind trade disputes; and presents the post-Bali corporate roadmap.
The WTO's crisis of legitimacy is evident in that despite deepening food, financial, economic and climate crises—to which the WTO has contributed significantly—its deregulation and liberalisation agenda remains much the same as in 2001.
Netherlands/Jakarta, 14 November 2014 - The announcement on November 13th of a US-India agreement on trade facilitation and India’s food security programme was denounced today by Transnational Institute and Serikat Petani Indonesia (SPI), the Indonesian Peasant Union Federation as a “victory for transnational corporations at the expense of peasant farmers.”
After the WTO fiasco at Seattle, many neoliberal commentators set about rewriting history. They said, somewhat improbably, that the US had emerged victorious and Europe and the countries of the South had lost out, Europe because it had not managed to table new rules and the South because it had failed to get more markets opened in the North.
South Africa is playing a significant role in supporting and extending the power of the World Trade Organisation, a new system of global government. This not only entails South Africa surrendering its own policy-making rights and space, but also means bargaining away the South African peoples’ democratic rights to determine their country’s internal economic, environmental, social and cultural policies.