STWR - Share The World's Resources

The current free trade model promoted by the World Trade Organization prevents developing countries from introducing economic reforms suitable to their own poverty-reduction needs. A ‘one size fits all’ approach will never alleviate inequality and hunger, writes Justin Frewen.

Together, the IMF, World Bank and WTO form the backbone of the modern world economy. However, these institutions are not democratic or representative of the global community, particularly the majority world which still lives in poverty. As a result, international trade, finance and development policies are skewed to benefit the economically dominant countries that represent a small minority of the global population.

Many Developing countries are left with little choice other than to compete for trade in international markets, leaving them trapped between a rock and a hard place.