The impact of multinational corporations, global trade and extreme weather in West Africa: Difference between revisions

The international trade generates an incredible wealth. In economic theory this trade is beneficial for both sides, but this only works when the rules are the same for everybody. Sadly this is not true because the rules controlling trade heavily favor the rich nations that set the rules. Make Trade Fair movement states that, „developed countries limit and control share of the world market by charging high taxes on imported goods. As a result, many developing countries can only afford to export raw materials, which give far lower returns than finished products“<ref>oxfam.org</ref>.For example, the developed world buys cheap cocoa from west africa and produces chocolate which is much more expensive. And simultaneously the developed world is forcing the third world countries to open their markets to their exports.<ref>oxfam.org</ref> Developed countries subsidize their agricultural production, driving down the price, this protects their farmers but the farmers from developing world can't compete with the subsidized prices .This has made many poor farmers even poorer. The developed countries tell the poor world to stop subsidizing their farmers, but they continue to spend billions of dollars subsidizing its own farmers[6]. Thanks to all these factors the developing countries serve as reservoirs of cheap labor and raw materials.  

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