Rigged Rules and Double Standards: Trade, globalisation and the fight against poverty
In an increasingly market-led global economy, prosperity has been created in some parts of the world while poverty continues to claim livelihoods in others. This dichotomy according to this report is created by the unfair rules that govern this global interaction called trade. The human cost of unfair trade are immense. The report states that if Africa, East Asia, South Asia and Latin America were to each increase their share of world's export by one percent, the resulting income gains could lift 128million people out of poverty. Rich country governments put up severe trade restrictions in form of tariff barriers that are four times higher than those faced by the rich countries themselves. The paper gives an in-depth analysis of the injustice inherent in current international trade rules and seeks to expose the effects of these on the poorer countries of the world. Based on extensive literature review of background research papers and use of secondary data from diverse sources, the report concludes that trade rules need to be adapted to accomodate the poor.