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Poor Trade: Liberalization Agreements Undermine Development and Food Security

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  • Kwame Sundaram Jomo

    (Khazanah Research Institute)

Abstract

This article outlines various phases of the evolution of trade liberalization and globalization, and the changing division of labour in the world economy. It discusses how economic specialization and international trade have been shaped by power relations, corporate interests and national economic capacities. It explores the challenging implications of trade liberalization—accelerated, constrained and broadened by WTO rules and regulations—for developing countries. Earlier food security and industrialization efforts have thus been undermined. With competing demands on and inducements for rivals in a multipolar world, seen as a new Cold War, developing nations should mobilize for pacifist non-alignment. By cooperating better and not taking sides, the Global South will be better able to negotiate more effectively in their own collective and national interests.

Suggested Citation

  • Kwame Sundaram Jomo, 2023. "Poor Trade: Liberalization Agreements Undermine Development and Food Security," Development, Palgrave Macmillan;Society for International Deveopment, vol. 66(3), pages 260-269, December.
    • Handle: RePEc:pal:develp:v:66:y:2023:i:3:d:10.1057_s41301-023-00394-z
    DOI: 10.1057/s41301-023-00394-z
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    References listed on IDEAS

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