On the other side are the world's largest multinationals and their powerful lobby groups. Depending on whom you listen to, they are either regarded as the means to economic progress or the masters of the universe, seeking huge power and profits through exploiting people and the environment. It was formed in 1995 to lower tariffs, remove trade barriers and resolve trade disputes. But there are real concerns that something is going terribly wrong with the rules that govern world trade. The heaviest losers are the powerless, especially the world's poor.
Trade is often justified on the basis that it helps poor countries to develop.
However, instead of exports from the poorest countries being boosted, their share of world trade has fallen dramatically. The effects have been devastating. Sub-Saharan Africa as a whole is poorer than it was 30 years ago. A major problem is the plummeting prices they face for their commodity exports. Multinationals have gained a stranglehold over the supply chains - just four companies in each industry control 90 per cent of exports of corn, wheat, coffee, tea and pineapples.