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Poor Trade: Liberalization Agreements Undermine Development and Food Security.

Authors :
Jomo, Kwame Sundaram
Source :
Development. Dec2023, Vol. 66 Issue 3/4, p260-269. 10p.
Publication Year :
2023

Abstract

This article outlines various phases of the evolution of trade liberalization and globalization, and the changing division of labour in the world economy. It discusses how economic specialization and international trade have been shaped by power relations, corporate interests and national economic capacities. It explores the challenging implications of trade liberalization—accelerated, constrained and broadened by WTO rules and regulations—for developing countries. Earlier food security and industrialization efforts have thus been undermined. With competing demands on and inducements for rivals in a multipolar world, seen as a new Cold War, developing nations should mobilize for pacifist non-alignment. By cooperating better and not taking sides, the Global South will be better able to negotiate more effectively in their own collective and national interests. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
10116370
Volume :
66
Issue :
3/4
Database :
Academic Search Index
Journal :
Development
Publication Type :
Academic Journal
Accession number :
176005318
Full Text :
https://doi.org/10.1057/s41301-023-00394-z