International trade agreements can be detrimental to developing countries from "summary" of Globalization and Its Discontents by Joseph E. Stiglitz
Globalization has been hailed as a force for good, promising to lift all boats and bring prosperity to all. However, the reality is far more complex, especially when it comes to international trade agreements. While these agreements may benefit developed countries by opening up new markets and increasing exports, they often come at a high cost for developing countries. One of the main ways in which international trade agreements can be detrimental to developing countries is through the imposition of strict intellectual property rights. These agreements often require developing countries to adopt stringent patent laws that protect the interests of multinational corporations, making it difficult for domestic industries to compete. This can stifle innovation and technology transfer, hindering the development of local industries and perpetuating a cycle of dependence on foreign technology. Furthermore, inte...
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