Q. Discuss the world trade organization (WTO) as a mediator between globalized international trades? What has been the impact of WTO accession on Gulf states?
Expert Answer
WTO as a mediator in international trades:
More than 90 percent of the disputes can be solved through mediation. The current dispute settlement system of WTO uses consultation and mediation and avoids litigation.
In developing countries, consultation is considered disadvantageous. These countries do not have the bargaining power when it comes to the developed nations. Panel litigation is rigid and costly.
It supplements interests based procedure with a rights-based, and, power based procedure.
Mediation can be
OR
PayPal Gateway not configured
OR
PayPal Gateway not configured