An international group of development of economist

Many of the international groups ofdevelopment of economist made remarks regarding the free trade done through the world trade organization. Many of the international groups of development economists spoke at the world economic forum in Davos regarding the WTO and Globalization. A world economic forum is aplace where leaders are gathered to discuss the affairs and exchange notes on the global business opportunities, but the forum which was conducted in 2017 was one of the anxiety, defensiveness and self-reproach forum.

One of the well-known economist Dambisa Moyo, who is a supporter of free trading and another economist by the name of Christine Lagarde, who is head of the International Monetary Fund (IMF) added that the world trade organizationneeds to change its infrastructure as it cannot survive in its current state.

Recent effects of World trade organisation:

The head of international monetary fund Christine Lagarde,analyzedthe impact of world trade organizationin which it was found that the hedging or discounting used for conducting free trade has caused anegative impact on the economy. She further added that the current proposal of Davos isnot going to work unless something changes.
International Trade And Wto Harvard Case Solution & Analysis

The impact of Political System in World trading:

Politics hasalso damaged the world trading organizationas, during the democratic race one of the senators Bernie Senders attacked Hillary Clinton due to her support for free trading. The President of the United States Donald Trump made certain remarks on taking action on WTO.  The reason that Donald Trump had made such comments on WTO, because he believes that the trade practices commenced by WTO are unfair which are causing currency manipulation, unfair government subsidies and property theft. Trump plans to enforce the trade laws in U.S by imposing new taxes on imports and also challenging the rules of WTO. Trump also commented on unfair trade practices done by WTO especially in China

The recent remarks made by Donald Trump regarding unfair practices being done by WTO in China. China is worried that its exporting industries will suffer due tothese accusations made by the President of the United States. China has been using currency manipulation by pushing the price of its yuan up in which the exporters benefit. Most of the exports of China are done in the United States, and this makesthe products much expensive on which the WTO also plays its role according to Trump.

Technological impact on WTO:

Many of the economistsbelieve that the technological advancement is the main reason for replacing low skilled workers while one of the Economist Dani Rodrik believes that Globalization should also be considered in providing jobs to fewerpeople. He further adds that globalisation has caused lower wages, job insecurity to workers, especially in the developed nations. Most of the organizationsare setting up theirbusinesses, where labour is cheap and the country is full of the needed resources and has advanced technology.....................

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