The World Trade Regime, Transnational Corporations and Human Right

Abstract

The inauguration of WTO in 1994 brings a global market to be administered on the rule of law ideal. A material welfare and fair trade through the trade liberalization and increasing terms of free market are no longer merely dreamy, but our palpable reality. The new trade agendas, so-called New Round, had been and are being consulted seriously for the growing role of world trade administration. To our dissatisfaction, however, the challenge and dilemma of derogatory human right practice had not diminished provided that the perspective and strategy are less researched and receive a slim repercussion. A wisdom and cooperation of global states are truly demanded. In addition to the economic perspective and material prosperity, the nations need to be cautious for a dynamism of human right practice. The paper argues that the international standard of human right practice could be dysfunctional absent a strategic and systemic collaboration of key international players. Following an introduction, chapter II surveys the nature and quality of private enterprises. Chapters III and IV are devoted to a trait and scope of human rights contested and related with the international trade. Chapter V explores an ontological theme of transnational corporations' duty and ethics. Chapter VI surveys a tentative model to effect the compliance of transnational corporations with the ethical and legal standard. Chapter VII suggests the categories of bad practice and best strategic alternative corresponding to each category. The final chapter provides a conclusive remark for the better future.

Keywords: Transnational corporations, WTO, Trade liberalization, Human right, International standard of conduct, National court