EP 07 Regulating Regulating globalization and international trade PT 1: The World Trade Organization
As we have seen, globalization is the economic integration of trade, production and finance on a world scale. However, the process of globalization is not unfettered; it is regulated, by the World Trade Organization (WTO). The WTO has an immense impact on our lives, but it is little known, and little understood. Moreover, given that there has been a slowdown in globalization since 2008 it is important to understand how governments have responded. Finally, given the role of globalization in the contemporary world, we need to ask: has globalization contributed to global poverty and human inequality?
In Part 1 of this Episode we will examine the organization, structure and purpose of the WTO.