GLOBALIZATION FAIL – BARRIERS TO FREE INTERNATIONAL TRADE
It is a well-acknowledged fact that no country can survive in isolation and to achieve an economically strong and stable position in the era of globalization, participation in international trade is a must. Though there are international organizations and bodies governing the trade relations between countries, there are still a number of barriers that come in the way of free trade. These barriers can be categorized as ‘Tariff’ and ‘Non-Tariff’ barriers. This paper covers some of the most relevant non-tariff barriers, i.e. technical barriers to trade and sanitary and phytosanitary measures as well as its effects on the domestic and the international markets of different nations. Along with this, the present paper also critically evaluates other regulatory provisions of WTO relevant to the subject. The researcher has tried to elucidate how the developed countries use the WTO Agreements to their advantage creating unnecessary obstacles to trade for the developing countries. It also highlights how the states have been exploiting the concept of ‘Globalization’ for their own benefits but in disguise and how in a literal sense the concept of ‘Globalization is Failing’. This work is an attempt to prove that the literature and theory of International laws differ from what is practiced to a very large, rather extreme limits. The researcher has also tried to discuss the focus areas wherein no relevant literature is available and much work needs to be done in the International scenario as far as unearthing and interpreting literature from the trade perspective of developing and least developing countries is concerned.