Today, the World Trade Organization is in a major crisis of its own making, with its over-reaching enforcement regime derailed, its Director-General abruptly announcing his resignation and legislation introduced in both chambers to terminate Congress’ approval of the organization.
When the WTO was launched in 1995, we were promised by an array of corporations and politicians that it would usher in a new era of win-win globalization that would deliver higher wages and good jobs. Instead, as activists and union members warned, the WTO has facilitated a race to the bottom in wages and mass job outsourcing, especially after China joined in 2001. The WTO has ruled again scores of U.S. policies, including environmental and consumer protections.
What happens next at WTO affects us all. In this episode Lori digs in the history of the organization and describes the significance of its current crisis.
Music: Groove Grove by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/3831-groove-groveLicense: http://creativecommons.org/licenses/by/4.0/