Write a 20 page essay on In recent years WTO negotiations encountered a number of difficulties. How we can identify and asses the economic benefits that might occur as a result of a successful conclus

Write a 20 page essay on In recent years WTO negotiations encountered a number of difficulties. How we can identify and asses the economic benefits that might occur as a result of a successful conclusion to the recent trade negotiations at the WTO Use theories to explain the rat.

nomies such as China, Brazil and India are advocating for agricultural tariff reductions, a reduction of agricultural subsidies in developed countries and for one-sided access to manufacturing markets and for protected services sectors. Developing countries including the US and the EU are seeking greater access to the services and industrial markets of developing countries and for the retention of agricultural subsidies (Fergusson, 2011).

In light of the recent global financial crisis of 2007, renewed fears of a new global economic crisis and concerns about food security, the G-20 leaders at the Seoul Summit in 2010 urged the WTO to bring the Doha Development Round to a conclusion (Meltzer, 2012). Researchers have expressed the view that the multilateral trade system is in danger with the Doha Development Round coming to a halt as more and more countries are resorting to Free Trade Agreements and discriminatory trade practices (Schott, 2010. Meltzer, 2012). The G-20 Summit in Seoul in 2010 argued that given the current problems of an impending economic depression, the recent global financial crisis of 2007 and concerns about food security, the multilateral trade system is more important now than ever before (Meltzer, 2012). This is consistent with trade theories that assume that governments engage in trade agreements by identifying problems and determining how a trade agreement can solve those problems and benefit all parties to the trade agreement (Bagwell & Staiger, 2010).

This research paper therefore uses theories of trade agreements to identify and access the benefits that might occur if the WTO negotiations are brought to a successful conclusion. Theories of trade agreements will help to identity and access the benefits of the successful conclusion of the WTO negotiations by aiding in the identification of the problems that these negotiations are intended to solve (Bagwell & Staiger, 2002). The neo-classical economic theory will also be used in helping