This is not only true for example for greenhouse gas emissions but applies also

This is not only true for example for greenhouse gas

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This is not only true for example for greenhouse gas emissions but applies also to biodiversity loss or to loss of cultural and historic relics. From this point of view, economic activity in a nation having adverse consequences on such assets may be of global concern. This has not as yet been adequately allowed for in the theory and policies adopted by WTO. According to Halle (2000), WTO has failed to come to terms with the objective of sustainable development. This is probably because it has relied for most of its policy underpinnings on neoclassical or orthodox economic theory. Halle (2000, p.6) states: “One problem is that the WTO has never been clear about the goal that trade liberalization is intended to reach…. If the goal is economic growth of the GDP kind, WTO will not win broad support. The goal must be wider. The time is right for WTO to articulate its end-purpose. Sustainable development would link WTO with many other international processes, but more important it would provide a 14
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basis for developing filters [for policies] in the absence of which the WTO is flying blind”. WTO has followed a compartmentalized or partial approach to trade policy. It has concentrated on economic efficiency and growth objectives leaving others to take care of environmental and sustainable development dimensions. But such an approach in the long run is unlikely to be effective. Greater integration of global objectives is desirable. The inability of WTO to address the need for such integration has been a matter for considerable concern globally. 2.4 The future development of WTO in field of trade and environment There is clearly considerable opposition to the outlook, procedures and policies of the WTO, as well as to those of some of the other Bretton Woods intitutions. The extent of this dissatisfaction became apparent at the Seattle meeting. 2.4.1 Different views and Seattle Meeting There appears to be social anger about the inability of WTO to integrate its policies and its outlook with global desires for environmental protection and sustainable development. To many, it seems that WTO has adopted an ostrich-like approach. Halle (2000, 0.7) comments: “Hearing the WTO repeat like a mantra that trade liberalization is good for the environment, good for the poor, good for development, indeed just plain good was grounds enough of the Seattle riots. It has long been clear that trade liberalization can be good for sustainable development but only provided that trade, development and environment policies are harmonious and mutually supportive. By and large they are not, with the result that trade liberalization has undermined development objectives and damaged the environment.” Achieving such harmonization will not be easy. However, that is not a reason to avoid searching for mechanisms which will at least provide some degree of harmonization or balance in the pursuit of these different objectives. WTO and similar international bodies 15
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