World Trade Organization is a liability according to Dr. Carmen Dorobat
On 11th December 2017, WTO officials are scheduled to meet for the 11th ministerial conference in Buenos Aires.
Dr. Carmen Dorobat, Assistant Professor of Business at Leeds University has provided great insights into the work and failures of World Trade Organization and why she feels that the organization should be folded.
WTO ministers will be meeting amidst accusations of being largely inefficient. The organization was formed twenty two (22) years ago and it has nothing in the arena of trade liberalization to show for it.
WTO operations have to go just like those of World Bank and International Monetary Fund. The organization does not operate on a profit and loss basis. It operates on political partisanship. This is how WTO has been able to survive even when their budget stands at USD$200 million from the pockets of taxpayers every year.
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