Bhagirath Lal Das is one of the universe ‘s prima governments on the WTO. He was India ‘s embassador and lasting representative to the General Agreement on Tariffs and Trade ( GATT ) . Later on, he served as manager of international trade plans at the United Nations Conference on Trade and Development ( UNCTAD ) in Geneva. . During that period he besides functioned as Chairman of the GATT Council and of the GATT Contracting Parties. Since his retirement from Indian Administrative Services every bit secretary to the authorities of India, he is functioning as an adviser and adviser to several organisations. Now, he is advisor to Southern and Eastern African Trade Information and Negotiations Institute. The above mentioned part of writer qualifies him to compose on the topic. His country of research is trade and finance. He has written four books on the World Trade Organization ( WTO ) which provide echt penetration of WTO and its deductions for developing states.
“ The WTO and the Multilateral Trading System: Past, Present and Future ” is written by Bhagirath Lal Das and published by Zed Book ltd and Third World Network in 2003. The aim of the writer is to pull attending to the fact that the bing many-sided trade system should non travel on in its present signifier at the cost of development of developing states. It requires the policy shapers to look beyond short term additions for sustained and stable growing of their states. This book comprises of six chapters which provides deep penetration of planetary many-sided trading system under WTO. The first chapter inveterate describes the development of WTO from GATT along with the fortunes which necessitated development of many-sided trading system. The 2nd chapter high spots grey countries and mischievousnesss played by developed states. The 3rd chapter gives elaborate history of deductions faced by developing states in the execution of WTO understandings. The 4th chapter puts frontward new issues sing investing, competition policy, environment and labour criterions etc. strike harding at the door of WTO. The 5th chapter describes strengths and failings of WTO processes sing execution of understandings and induction of proposals. The 6th chapter emphasiss on betterment of ongoing many-sided trading system along with valuable recommendations. In this book, Bhagirath Lal Das has adopted analytical manner of composing in depicting deductions of WTO for developing states along with suggestions for future discourse. While, the book is orderly and logically written that fulfills the intent of writer to portion his experiences with the readers, even with those who have small cognition of economic sciences.
Writer ‘s Thesis
The writer claims that desolation of 2nd universe war and the great depression of 1930s were the factors which necessitated developing many-sided trading system. The thought of international commercial brotherhood was floated by UK. But, the enterprise was taken by United Nations in 1948 through its Economic and Social Council in convening Havana Conference in which commissariats on duty and export were agreed upon through a protocol. This protocol became Havana Charter and laid the foundation of General Agreement on Tariffs and Trade ( GATT ) . Since so several unit of ammunitions of many-sided trade dialogues took topographic point in order to explicate a consentaneous frame of action for planetary trading system but focal point remained on decrease of duties. Up to Kennedy Round ( 1964-68 ) these dialogues confined among developed states but a big figure of developing states participated in Tokyo Round ( 1973-79 ) . In Tokyo Round, a codification of rights and duties was formulated sing subsidies, dumping, imposts rating and import licensing. Subsequently on, Uruguay Round ( 1986-94 ) started which expanded rights and duties in the countries of services and rational belongings rights protection. Furthermore, it besides provided institutional base to multilateral trading system in the signifier of WTO which has the position of intergovernmental organic structure. GATT existed until 31 December 1994 so it was replaced by World Trade Organization ( WTO ) on 1st January 1995 under the Marrakesh Agreement. WTO chiefly focused on liberalisation of trade but it inherited all the bequests of GATT.
Harmonizing to the writer, though WTO is a new platform for planetary trade yet the developed states, peculiarly US and European Union have their hidden motivations and they are germinating their involvements in its aims. It is apparent from the fact that developed states started supplying subsidy to their husbandmans in the name of research and development in order to prolong their agricultural sector when they found it being eroded in the consequence of broad trade. On the other manus subsidy is non allowed otherwise under the duties of WTO. While, 3rd universe states are being pressurized to extinguish subsidy given to agricultural sector and they have non sufficient resources to subsidise their agribusiness sector to vie in the universe. Similarly, developing states got excel in fabric sector in with the transition of clip. When fabric industry of developed states found it hard to last, they started quota system in which they imposed quota on the imports from developing states. This issue was raised in WTO but developed states took the supplication of balance of payment. Furthermore, due to miss of coherency among developing states and their weaker economic place forced them to withdraw from their stance. It is irony that developed states have cutely protected their involvements by conveying services sector under the scope of WTO and ensured the protection of rational belongings rights including findings of pharmaceutical industry. Now, trade of services is free from duty and those can non be copied. Furthermore, the developing states have lost a large ball of gross by cut downing duties on import and export. It has benefitted developed states because they have cost efficient merchandises and they can easy saturate the market of developing states. It would gnaw autochthonal industry which can non be upgraded because the cost of transportation of engineering is really high and transcript of engineering is barred under the protection of rational rights.
The writer has farther highlighted disagreements in the procedures of WTO. Equally far as the procedure of dialogue and determination devising is concerned it is done in little groups, so the determinations are applied by and large. In the instance of any difference, all the developed states support each other while developing states have failed to hard currency their numerical strength due to their divergent involvements and their dependance over former. If any underdeveloped state attempts to protect its economic system and balance of payment, it recourse to boost in duties or infliction of quota but it is persecuted under the proviso of enquiry and it is barred from enforcing such conditions till the concluding study of enquiry. Furthermore, the imports from that state are besides lessened in revenge. It is non the terminal, now developed states are presenting commissariats sing environment, labour criterions and flexibleness in investing which would besides gnaw the economic involvements of developing states. Their merchandises would be banned on the issue of environment and criterions of labour. Furthermore, flexible regulations of investing would do development for a short clip, finally it would do the escape of capital.
In the terminal the writer has recommended that the bing system of many-sided trading system should be improved on para between developed and developing states alternatively of derailing it. Second, WTO processes of dialogue and determination devising should be made transparent and democratized. Third, involvements of developing states should be guarded and commissariats of WTO should non be imposed one-sidedly. Fourthly, ailments and grudges of developing states should be decided judiciously at the forum of WTO. Fifthly, NGOs should be invited to play function in the consciousness of people sing WTO and its potencies. Last, UNCTAD should come frontward to decide the differences of member states of WTO and future chances must be dealt in the visible radiation of these recommendations.
I by and large agree with statements of the writer. His statements and recommendations are non simply chitchats but these are based on his experience of 30 old ages. He is perfectly right in judging the deductions of WTO and blanks in its procedures. Because, these deductions are besides found with our state, who is at the clemency of developed states.
But this book should be studied objectively because at certain points the writer looks prejudiced being the representative of a underdeveloped state. He has blamed developed states for all the immoralities. He has ignored the fact that developing states besides bear the duty of bettering their criterions. Though developed states have imperialist motivations yet it is the duty of developing states to trust on autochthonal resources and beef up their substructure before exposing their markets for unfastened competition. Furthermore, the writer must urge developing states to concentrate on intra-regional trading system on the form of ASEAN and EU so that they would be able to negociate on strong terms. Last, the state of affairs of universe has been changed after economic crisis of 2008 which has jolted the economic system of all the major developed states, hence, developing states should seek to seek new function in the many-sided trading system.
This book was published for the first clip in 2003 by Third World Network and Zed Book ltd. It comprises of six chapters and 249 pages which are orderly and logically synthesized. This book besides contains endnotes, bibliography, index and a list of different abbreviations used in it.
Indeed this book provides deep penetration of planetary many-sided trading system and its deductions along with some remedial steps. Therefore, it is every bit good for think armored combat vehicles and university pupils of developing state.