By Constantine Michalopoulos
ISBN-10: 0333970160
ISBN-13: 9780333970164
Globalization signifies that this present day, greater than ever prior to, development in constructing nations and the aid of poverty rely on global exchange and a good functioning buying and selling approach. This quantity reports constructing nations' alternate regulations and associations, and the demanding situations they face on this planet alternate Organization—where the foundations that govern the overseas buying and selling approach are set.
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Extra resources for Developing Countries in the WTO
Example text
It traces the evolution of developing-country participation in these organizations and links this to changes in the types of international trade policy that are deemed conducive to development. Particular attention is paid to the concept of differential and more favourable treatment for developing countries in respect of their rights and obligations in GATT/WTO and to its changing content and emphasis over time. The next section reviews the main principles and practices of developing-country participation in GATT from the time of its establishment through to the mid 1980s, and links them to the concerns about the relationship between trade and development that prevailed during this period.
This is because large countries tend to have smaller ratios of trade to GDP than small economies. Also, the existence of large enclavetype export sectors in some developing countries may give the false impression that the economy is well integrated into the world trading system, when in practice the bulk of economic activity may be subsistence domestic production. 9 shows the evolution of this indicator in developing countries for the period 1980±98. The trade to GDP ratio was highest for the highand upper-middle-income countries at both the beginning (1980) and the end of the period (1998).
Rather, countries use the designation on the basis of self-selection. As a consequence Singapore, with a per capita income of $30170 in 1998, and Ghana, with a per capita income of $390 (World Bank, 2000a), are both supposed to bene®t from the same provisions. On the other hand there is an of®cial UN list of 49 LDCs, 30 of which are currently members of the WTO. The original GATT contained no explicit provisions for developing countries, but developing countries soon started to voice their concern about the special challenges they faced in international trade.