Maintaining Strong International Business Relationships
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We are facing difficult economic times right now. If you are concerned by what is happening with the economy and you are wondering how your company or industry will compete, talking with an experienced lawyer can help. At my firm — the Law Offices of Titus D. Peterson, P.C. — I help clients understand the complex rules and regulations of the World Trade Organization (WTO) and how these can be used to advance your business model. Contact me online or call 303-260-6412 to schedule an appointment.
Understanding the WTO
Established in 1995, the WTO is an international organization that regulates all international trade treaties. It was created to promote open trade with the hope that this would benefit everyone. The reality of the WTO is something entirely different. At essence it is promoting a race to the bottom in wages, the protection of workers and regulations which protect the environment. Understanding how these forces actually are causing and contributing to the deflationary forces undermining the world's economy is critical to understanding how to protect your industry, your company, your state's economy or your job. There are ways to counterbalance these forces. But a thorough understanding of the WTO and US trade policy and institutions is critical to support economic growth and development.
The WTO is a part of three institutions that arose in the aftermath of WWII. The Bretton Woods conference was convened because economic events were seen as the forces which drove the world to war. Hyperinflation in Germany created the fertile soil for the rise of Naziism and trade wars with Japan led to the bombing of Pearl Harbor. The three institutions created as a result of the conference are the International Monetary Fund, the World Bank and the GATT (which later became the WTO).
Why Contact an Attorney with Experience in International Trade?
There are fundamental problems with the trade rules formulated under the WTO. These rules were developed in the early 1940's; during a time when corporations had a domestic bias toward their home country. Therefore, it was reasoned, these corporations would have an interest in protecting workers from their home country as well as the environment there. None of this holds true today.
Multi-national corporations have emerged in almost every major field. By their very nature, these corporations lack an interest in protecting domestic constituencies or lobbying their government to act on their behalf. Yet it is only through your government that a trade case can be filed at the WTO. Moreover, the government has complete political discretion as to whether a case can be pursued.
Basing a world trading system around these ideas makes the institution itself ineffective in protecting the rights of workers in those countries or in protecting the environment against the ravages of so called "free trade." Not only is trade not 'free" under the WTO but multi national corporations have come to manipulate governments and thus the WTO so that the salaries of those who run these Multi National Corporations can be maximized.
The recent collapse of the economy has shown, however, that the biggest problem with the entire WTO is that it causes chronic deflationary cycles as large numbers of workers are displaced or become unemployed and economies lose revenue and governments tax bases. There are ways to fight back. Using the WTO and also amending domestic laws to expand those who have standing to initiate trade disputes are a few examples of how my firm can help you.
With 18 years of experience and with 11 years advising companies and individuals on international transactions, I offer clients the legal counsel they need to keep their business strong and make informed strategic decisions on how to protect their business. I help businesses and unions figure out how to work around unfair trade barriers, how to initiate trade disputes, how to effectively formulate a trade complaints against unfair competition and how to navigate excessive regulations meant to protect you from protecting yourself. To schedule an appointment, contact me online or call 303-260-6412.
Law Offices of Titus D. Peterson, P.C.
600 17th St. Ste 2800
Denver, CO 80202
Telephone: 303-260-6412 | Cell: 720-276-4418
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