WTO agreement : reformation or recolonization.

Abstract

There is a major concern that, with the end of the cold war, the World is moving into an era of unipolarity and consequently of economic and political dominance by the rich and developed countries over the less privileged. Even though the powerful nations of the World, the U.S.A., Western Europe (considered as a single entity for all practical purposes) and Japan have their major differences in their global perceptions in matters of trade and economic growth, monetary and fiscal systems and political ideologies, there is a tremendous degree of commonality when it comes to attitude towards their role in managing, monitoring and controlling global affairs particularly related to developing countries.