International Trade Rules and Practices Have Worked in Favour of Developed Countries (Dcs) but Against Less-Developed Countries (Ldcs) in Recent Decades.” Critically Evaluate This Statement Providing Real-World Examples

3535 Words Oct 22nd, 2013 15 Pages
International Economics
Curtin University
Assessment 1

International trade rules and practices have worked in favour of developed countries (DCs) but against less-developed countries (LDCs) in recent decades.” Critically evaluate this statement providing real-world examples & recent evidence to support your argument.

Introduction
In recent decades International trade rules and practices have worked in favour of developed countries but against less developed countries, in recent years however this trend has declined and the future of trade rules and practice appears to be less discriminatory. Less developed countries (LDCs) have consistently been faced with challenging trade rules and practices.
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Developing countries have asserted themselves, particularly over the past 2 decades. The formulation of the G20 and the first public flexing of their muscles at the WTO conference, 2003, resulted in the breakdown of negotiations. “Most observers interpreted events at Cancun as a fiasco and a multilateral failure, but when we look a bit deeper we see developing countries forming an alliance that effectively represented their interests” (Crump, Larry & Javed, 2007, 17), this is a direct example of LDCs using international practices to their advantage and resisting DCs attempts at pushing them around. Unfortunately most developing countries have small assemblies at the WTO and therefore are often overcome by the sheer extent and the gruelling schedule while negotiating. Although LDCs are increasingly influential on the world stage, they are still often disadvantaged by the nature of international practices.

The World Trade Organization and LDCs

The…