The Bretton Woods conference held in July 1944 resulted in the creation of the World Bank (WB), the International Monetary Fund (IMF), and International Trade Organisation (ITO). It was primarily formed, in the words of John Maynard Keynes, to seek "a common measure, a common standard, a common rule applicable to each and not irksome to any." This article will examine this assertion in the light of Bretton Woods's system as a shift from the implied conventional-based economic cooperation of global states, to a rule-based multilateral economic cooperation of global communities.
Globalisation is based on freedom of economic transactions, aimed at making the world a global economic village, as an engine of interconnectedness, growth and increased living standards of all citizens of the world. It is presupposed to be the radical and revolutionary approach of deconstructing unequal economic policy as it affects developing countries. Deconstruction for Derrida is justice, or it is situated between law and justice and will be applied in solving the global economic marginalisation of the developing nations. This treatise will argue economic justice in the light of "erga Omnes" after John Rawls, for global economic justice, fairness and equity in the distribution of economies, to balance the need for growth in wealth with regards to the deprived developing nations.
The World Trade Organisation (WTO) process and its ethos are fast losing their development objectives. The crisis, challenges and complexities in the implementation of WTO policies on agriculture and market access has not abated. Intellectuals, researchers and academics opine that the implementation of WTO policies have not only encouraged power and development divide between the Industrialised nations and the developing nations, it has worsened the rate of global economic inequality. Although the inclusion of agriculture in the Uruguay Round was taken as a major achievement, the commitment to minimum market access for most protected products, reducing export subsidies and a considerable measure of support, did not do much to lower agricultural protection. The promises made to the developing countries under the Doha Development Agenda (DDA) on agriculture, market access, reduction of subsidies/tariffs and implementation issues were limited and not fulfilled. Can the emerging WTO market capacities and alliances lead to a change in the decision-making process? This writing aims to critically analyse the existing WTO legal problems hindering market flows and the incidence of barriers to trade in agriculture being much higher than protection of developing countries farmers which has impacted their development.+ Keywords: WTO; Legal; Agriculture; Implementation; Inequality; Developing Countries; Doha Development Agenda; Decision-marking; Market Access; Development.+
Although brutality can repress a society, it never assures the sustainability of that conquest. Tyranny steers the hopeless to despair, edges to rebellion, and could open the door for a new tyrant to rise. Law becomes a limiting factor that must act as a stopgap to the avaricious intentions of a dictator. A democratic leader must incorporate the supremacy of the law and honest officials into his government. He shall also create courts of law, treat the poorest citizens with fairness and build a hall of justice to bring the society to modernity with the operation of the rule of law enshrined in the constitution. Legislation is nothing without enforcement and Law is no law if not accepted and respected by the people. The rule of law cannot be said to be working in a country where the government continues to violate the orders of the court, unlawfully detain its citizens, abuse human rights including arbitrary and extra-judicial executions, unlawful arrests and detentions, embargo on freedom of speech and press, impunity and inhumane torture, degradation of people or exterminations. This treatise will argue on the supremacy of the “Rule of Law” as it impacts Nigerian democracy. Keywords: Rule of Law; Democracy; Judiciary; Supremacy; Government; Tyranny; Nigerian Constitution
The relationship between free trade, globalisation, global poverty and global inequality for the past decades has generated interests from academics, free trade activists, public financial institutions like the WTO, the World Bank, the IMF, and the Organisation for Economic Cooperation and Development (OECD). Consequently, there has being divergent views and conclusions on whether free trade and globalisation actually benefit all countries of the world especially the developing world. This paper will examine the intent of global free trade agenda and how it affects the contemporary International market interaction between developed and developing economies. The paper will explore International trade obstacles, articulate policies that will maximize developing countries competitiveness, increased connectivity, improved trade access to markets and advocate ways to facilitate their participation in the global economy.
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