Rand Paul: “The World Trade Organization is in need of serious reform. Interestingly, while Western economists are proclaiming that…”

“The World Trade Organization is in need of serious reform. Interestingly, while Western economists are proclaiming that foreign investment and trade have been a blessing for the world's poor, we hear quite a different message coming from the poor themselves. The recent meeting of developing countries from Asia, Africa, and Latin America known as the G-15 saw host Hosni Mubarak say that despite assurances early on that globalization would lead to an improvement in living standards, instead, imbalance in the world economy is increasing instead of decreasing. In fact, in 1999, 45 percent of the world's income went to the 12 percent of the world's people who live in rich, industrial nations. The three richest Americans own more than the world's 20 poorest countries. Mr. Speaker, developing countries were sold a bill of goods, but so were we. Corporations, with the help of the WTO, have forced workers throughout the world into a deadly game of chicken.”