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View Diary: Failing To Respect The Third Rail (290 comments)

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  •  it was, and it came really without governments (2+ / 0-)
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    NoMoreLies, joanneleon
    it's at least a start on international cooperation on issues of economics.  
    It was the corporados who pushed everyone to the table and built WTO. They had all seen what the death toll was in the international corporate wars of the 80's, and they didn't want to go through that again.  So they agreed to produce a set of rules that everyone everywhere had to live by.

    Sadly, it was not a DEMOCRATIC process---if it had been, it might have contained provisions in areas like minimum wage and labor standards, environmental protections, consumer protections, product safety standards, etc.

    But if WTO gains jurisdiction over international finance, as it is trying, it is a pretty good chance that it will do what governments will not----regulate the global financier gamblers. The corporados suffered for that too, and have no desire to suffer through it again. And WTO, unlike the US Government, is big and powerful enough to put Wall Street in its place. (Of course, it is a given that WTO will regulate them to protect global CORPORATE interests, not public interests. They don't give a damn about public interests.)

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