By Aminu Isa
When it was announced that former finance minister Dr.Ngozi Okonjo- Iweala will be aspiring for the position of the DG of the WTO, I was least exited and in fact, optimistic that she will clinch the position having worked with sister’s Bretton Woods institution,The World Bank ( WB) for decades. Even though the Nigeria government threw its weight behind her ,I had thought that it was not necessary for her to win.
When eventually she was announced to have ‘won’ I was least surprise. But the sudden turn of event regarding the objection of her ‘ election’ by the US administration has elicited negative reactions from Nigerians.
Many wonder why Trump administration will dump Dr. Iweala at this critical time. Some alleged white supremacist . Yet , others wonder why Trump will dump a candidate whose ethnic stock are in much love with his style of administration.
Dr. Iweala did not come across to me as one whose leadership of WTO will bring any immense benefit to developing countries. Her role in the Nigeria’s dept management during President Obasanjo era only helped depleted the Nigerian foreign reserves which would have been helpful in the development of Nigeria’s critical infrastructure.This was when many debt trapped countries openly repudiated payments of debt obligations. She was to be rewarded with the position of VP at the WB, after her tenure as Nigeria’s Foreign Minister under President Obasanjo’ s administration.
The WTO liberalization policy has not been helpful to developing economies. Studies have shown that most countries that embraced trade liberalization without domestic safeguards are now worst off.
Trade liberalization which WTO promotes through reduction of tariffs and trade barriers have only helped to deepened the dependency of developing countries and by extension worsening poverty level.
Those who might be wondering why America is backing a Korean ought to realise that in International politics, interest of a nation come first, and America cannot afford to take chance in supporting a candidate that in her reckoning will most likely help her in its prosecution of trade’ war’ with arch- rival ,China .
