The Bretton Woods system was the result of a grand financial conference at the culmination of the Second World War. The participants were delegates drawn from 44 Allied countries that were in coalition against the defeated Axis powers. The main purpose of the conference was to organize and regulate the international monetary and financial systems,…
Tag: WTO
According to Rodrik, why is national democracy incompatible with deep globalization?
There are several contradictions between the concepts of democracy and unfettered globalization. Professor Dani Rodrik’s work on the subject is about elucidating these contradictions which is at the centre of many political debates today. One of main reasons why deep globalization is antagonistic to national democracy is the undue power wielded by international capital. For…
Should developing countries be exempted from WTO rules?
There are many sound supportive arguments for the view that developing nations have to be exempt from WTO rules. This essay will look into these in detail, while also presenting the rationale behind opposing viewpoints. Foremost among the arguments supporting exemption is the historical disadvantage suffered by developing countries. For example, most of the countries…