disadvantages of WTO to the Indian economy..???
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Disadvantages of WTO
However, the WTO has often been criticised for ignoring the plight of the developing world.It is argued the benefits of free trade accrue mostly to the developed world.Free trade may prevent developing economies develop their infant industries. For example, if a developing economy was trying to diversify their economy to develop a new manufacturing industry, they may be unable to do it without some tariff protection.
However, the WTO has often been criticised for ignoring the plight of the developing world.It is argued the benefits of free trade accrue mostly to the developed world.Free trade may prevent developing economies develop their infant industries. For example, if a developing economy was trying to diversify their economy to develop a new manufacturing industry, they may be unable to do it without some tariff protection.
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Explanation:
Many of the existing industrialised nations used tariff protection when they were developing. Therefore, the WTO has been criticised for being unfair and ignoring the needs of developing countries. Environment. Free trade has often ignored environmental considerations.
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