what's wrong with the wto?

The WTO is not the 'be all to end all' in balancing global
trade.Far from it,as China ponders its next move in the
continuing Rare Earth saga.It seems as though hypocrisy
and the WTO are intimate bedfellows.

Researchers have stated...

'The WTO and its defenders argue that it is a democratic
process,because all countries officially have one vote and
decisions are usually made by what they call "consensus".

In practice,however,votes are almost never taken.Rather,
the U.S. and other nations work with the WTO Director
General to broker 'green room' decisions in secret among
small,handpicked caucuses of complaint countries.

They then present the results as Faits Accomplis to the
other member countries.

Dominant Govts such as the U.S. often take their cues from
powerful industry consortia.These exert a disproportionate
influence on WTO decision making process.

The WTO's undemocratic decision making mechanisms are
weighted in favor of the industrialized nations and against
developing countries.

Transnational business groups exert heavy influences on
policies,and negotiations,while citizen groups are
marginalized and exclude'.

***

'These deals aren't about free trade.They're about the
right of these guys [corporations] to do business the way
they want,wherever they want.' [Eugene Whelan,-Canadian
Minister.[Ret]

***

'Large corporations are essentially "Renting" Govts to
bring cases before the WTO and in that way,win in the WTO
battles they have lost in the political arena at home.'
[Ellen Frank..'Dollars and Sense' ]

***

America is in debt to the tune of 17.4 Trillion dollars.
And the U.S. debt increases by $2.4 Billion daily.[May/14.
China owns the most U.S. debt. The U.S. owes China $1.27
Trillion dollars. [March/2014]

The Chinese financial magazine 'Caijing' reported that the
Vice President of China's central bank Pan Gongsheng made
some rather candid remarks about the dollar and the Renminbi
at a recent monetary seminar.

Pan told his audience-as well as any foreign investors that
care to listen,that China would continue to promote ,"a new
and more efficient system",i.e. specifically one that is not
dominated by America and the U.S. dollar."

Two days after Pan's speech two banks in China and Russia
signed deals to bypass the U.S. dollar and pay each other
in local currency.While this is just the beginning,it's a
major step toward Mr Pans objectives.

China is almost yodeling from Mt Everest,telling the world
what is about to happen.Few are listening.

Finally...

The WTO is a paper doll that crumbles on examination and
Chinese policy makers must be jubilant behind closed doors,
as the United States of Decline, 'plans' its next move on
China's Rare Earth supplies.

There are always disappointments in life and some people
can wade about in them for years.However,we could wake up
one morning,with China having told the WTO to invent a new
workable system,because the present one is so flawed.

This is highly possible and probable. A positive outcome
would see China's 'heavies' take center stage,where they
belong and with Northern's all important boxes soon to be
ticked-one can only imagine-the outcome!

True happiness can only be shared :)

HM