After world war II a series of trade were created to rebuild the world trade system, and prevent an economic depression like the Great Depression 1929 to 1933. In order to prevent the depression happened again the world created General Agreement on Tariffs and Trade (GATT), World Trade Organization, International Monetary Fund (IMF) and World Bank.
First of all, WTO was designed to reduce the tariff in order to produce more trade between others and reduce the gap between the poor and rich country; however most of the time the poor country held less power to talk with the rich country, therefore the talks mostly held by those rich country. Sometimes for those developing country the government failed to build a well social economic system to protect the local labor, so most of the time the company from others countries often make a lot of money from it, the poor country cannot do anything about it, because the labor needs jobs in order to get pay.
Second IMF and World Bank main goal were to prevent another economic crisis, and prevent any economic crisis, these two main goal have fail. IMF and World Bank not only continue to benefit those rich country or well develop country, but also continue to spread poverty in the world such as the country in South America and South East Asia. In 2008 it fail once again which effect the whole world, that is 2008 economic crisis. The two organisation were mostly influence by US policy, US government held 70% of influence in these two organisation.
All in all, in international trade is dominance by those rich countries or strong countries.
First of all, WTO was designed to reduce the tariff in order to produce more trade between others and reduce the gap between the poor and rich country; however most of the time the poor country held less power to talk with the rich country, therefore the talks mostly held by those rich country. Sometimes for those developing country the government failed to build a well social economic system to protect the local labor, so most of the time the company from others countries often make a lot of money from it, the poor country cannot do anything about it, because the labor needs jobs in order to get pay.
Second IMF and World Bank main goal were to prevent another economic crisis, and prevent any economic crisis, these two main goal have fail. IMF and World Bank not only continue to benefit those rich country or well develop country, but also continue to spread poverty in the world such as the country in South America and South East Asia. In 2008 it fail once again which effect the whole world, that is 2008 economic crisis. The two organisation were mostly influence by US policy, US government held 70% of influence in these two organisation.
All in all, in international trade is dominance by those rich countries or strong countries.