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A technician tests a headset before the World t rade Organization’s first Ministerial Conference in Singapore in 1996. (Mike Fiala/Getty Images) D IS SEN t SPRING 2021 G L OB AL E C ONOMIC D ISORDER Walden Bello I still remember attending the first ministerial meeting of the World t rade Organization (Wt O) in December 1996, a year after its founding. I did not know why known opponents of globalization like me had been invited; I suppose it was to inflict on us the lesson that it was futile to resist. An aura of triumphalism pervaded the meeting. t rade ministers and corporate executives alike proclaimed that globalization was the wave of the future. Government restrictions on the free flow of goods, services, and capital were a thing of the past. Within what skeptical observers like me termed the “blessed trinity of multilateralism,” there was a clear division of labor: the International Monetary Fund (IMF) would do away with barriers to capital flows, the World Bank would transform developing countries into free-mar- ket economies, and the Wt O, which former Director General Mike Moore called the “crown jewel of multilateralism,” would lead the elimination of any remaining barriers
Dissent – University of Pennsylvania Press
Published: Apr 8, 2021
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