The World Trade Organisation
Strategies to solve the development gap
- There is no one solution to the development gap
- There is often a dispute as to whether trade or aid is better for development
- Countries around the world contribute differing amounts to international development in the form of aid
The World Trade Organisation (WTO)
- Trade is one solution with the idea that if countries can trade more effectively their wealth will increase and they can invest in the development
- The aim of the WTO is to help its members use trade as a means to raise living standards, create jobs and improve people's lives
- Developed countries and the largest economies dominate the WTO
- Developing countries do not always have the same access to markets as developing and emerging countries
- The benefits of trade are not always shared amongst the population. In India and China, the gap between the wealthy and those living in poverty is widening
- Developing country's main exports are usually primary goods and these do not create the same profits as manufactured products