Gathering of the WTO

The WTO World Trade Organization (WTO) held a conference in Seattle, Washington, and the general public opposed the WTO's "prejudice policy." The first American assembly of the World Trade Organization caused strong anti-globalization sentiment among several groups and caused public violence. A group of protesters crowded the streets and their angry voices filled with air. Because they are gathered in the streets, wars are peaceful and furious.

The alarming fact of UNCTAD and the recent WTO conference is that the reform must begin in rich countries. If the United States, the UK, and more and more China fail to reform their financial system, we will continue to work on another global crisis. And the biggest loser is what we can not deal with the result as usual.

Under the WTO-based rule-based international trading system, trade policy became more stable, more transparent and more open. The World Trade Organization is the main reason why the global financial crisis did not cause widespread protectionism. But as recently seen in trade negotiations held at the WTO Doha, government agencies are facing major challenges to reach an agreement to further expand world trade. Despite its success, restrictive and discriminatory trade policies are still widespread. By solving these problems, we can generate hundreds of billions of dollars of revenue worldwide every year. However, the narrow benefits have been trying to procrastinate and dilute further multilateral reforms. Focusing on greater benefits, supporting a small number of people that may be adversely affected will help realize a more fair, more economical and wise trading system.

Over the past two decades, WTO member countries have agreed to significantly update the WTO rules manual to improve the flow of world trade. Members of the World Trade Organization have expanded to member countries, accounting for over 98% of international trade. In 2015, the World Trade Organization celebrated an important milestone after receiving the 500th trade dispute settlement.

Globalization has become a major public issue in the past decade. Most of the recent controversy focuses on the World Trade Organization (WTO). Established in 1994, the WTO has the power to oversee international trade, manage free trade agreements, and resolve trade disputes among Member States, on behalf of the General Treaty on Tariffs and Trade (GATT). However, under the WTO, power is greatly expanding into service trade and products including intellectual property protection. And the intellectual property right is interpreted as including the genetic code of the creature. In addition, the authority of the World Trade Organization for agricultural trade far exceeds the authority under GATT. In forming the WTO, the implicit (if not clear) goal is to reduce all trade restrictions and ultimately eliminate it to achieve a single global free market.