Daily O

Why India must prepare to exit the World Trade Organization

American economist Harry Dexter White and British economist John Maynard Keynes were strong advocates of a centrally controlled international trade environment, and recommended the establishment of three institutions: the International Monetary Fund — for fiscal and monetary issues; the World Bank — for financial and structural issues, and the International Trade Organization (ITO) — for international cooperation.

The ITO was envisioned to be a specialised agency under the UN to address various issues related to trade, but the US never approved it, as it reportedly didn't support American interests completely.

wtoo 690In a tight spot: The World Trade Organization faces accusations of

You're reading a preview, sign up to read more.

More from Daily O

Daily O3 min read
Surge Of Nationalism Or Political Promotion: What Is Wrong With Bollywood’s Recent Blockbusters?
Every Independence Day brings to mind images from films over the years that celebrate India and what it means to be free. The most potent of the delivery tools amongst the arts, the film has played a significant role in building up passion for the na
Daily O2 min read
Tracing The Legacy Of Lord Ram: This Clan Of Jaipur Royals Claims That They Are Descendants Of Kush, The Son Of Ram
While listening to the Ram Janmabhoomi-Babri Masjid case, the Supreme Court cursorily asked if there were any descendants of Lord Rama in Ayodhya. Senior advocate CS Vaidyanathan, appearing for deity Ram Lalla Virajman, said he was unaware, but a lot
Daily O5 min read
Happy Birthday Sridevi: A homage to Bollywood's fabulous 'Hawa Hawaii'
The last film of Sridevi's I watched before her demise on February 24, 2018, was Ravi Udyawar’s Mom (2017), a rape-and-revenge drama. Seen in the author-backed role of a teacher, who sets out to avenge her stepdaughter’s rape after the accused are le