Would bilateral trading agreements work better than the multilateral WTO approach?

Question

Would bilateral trading agreements work better than the multilateral WTO approach?

Answer 1

Maybe, but the complications can be significant.  If you trade with 100 countries, a single WTO-type agreement  is a lot easier to deal with than a hundred separate pacts.

Answer 2

This setrotypic country boy says no

Answer 3

Trade is a two edged sword. The WTO approach, in theory, is better however, big business has used its muscle with WTO to enrich themselves at the expense of the little guys, ie the Golden Parachute Club members get richer while the working managers down to the shop workers are losing their jobs.

This doesn't happen with bilateral agreements like the old EEC (European Economic Community). Historically, under bilateral agreements the working stiff does pretty good.

BUT under the bilateral trading you will see consortiums of banks giving development loans to countries if the country uses the money to buy products from the country whose banks gave the loan. In one sense this is good. In another sense, it knocks out a lot of competition.

Answer 4

Yes.  The WTO approach is subjecting the US to its rules which are not subject to a vote in the US.  They can legislate requirements to us.  This is happening now with the CODEX ALIMENTARUS (spelling may be wrong) which will dictate what goes into our food and whether we can even take vitamin supplements.  This is scheduled to go into affect in a couple of years and some of the things that it dictates are basically be rammed down our throats by some German guy that is virtually a n**i.  Unbelievable!  This is an example of the WTO approach to things.  In essense, its non-elected people determining our fate.  Our own laws and regulations are superceded by any that the WTO has in place.  Its just like One World Government.  Sounds far fetched but while I can find lots to support that theory, I can't find anything that arguably refutes it without sounding like double-talk or nonsense.