Asked by Sophia Michelle on May 12, 2024

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Critics of the World Trade Organization (WTO) say that liberalized world trade does all of the following except

A) produce environmental degradation.
B) allow producers to circumvent labor protections such as workplace safety, child labor restrictions, and collective bargaining rights.
C) help developing nations escape from poverty.
D) promote the interests of multinational corporations.

World Trade Organization

An international body that oversees global trade rules between nations, aiming to ensure trade flows as smoothly, predictably, and freely as possible.

Multinational Corporations

Large companies that operate and have assets in several countries, allowing them to produce and sell goods and services across national borders.

  • Identify and describe key international economic organizations and their impact on global trade.
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Verified Answer

WB
Winter BaileyMay 19, 2024
Final Answer :
C
Explanation :
Critics of the WTO argue that liberalized world trade often worsens income inequality and does not necessarily lead to poverty reduction in developing countries. Some argue that it can even perpetuate poverty by prioritizing the interests of multinational corporations over the needs of local communities. However, supporters of free trade would argue that opening up global markets can help developing nations achieve sustained economic growth and improve their standard of living.