Power and Trade Agreements between Developed and Developing Countries

In this paper, while reviewing, investigating, and comparing the works of Wade (1992); Ozden (2003); and Bist and Read (2018), I argue that despite the collaborative efforts and policies from the world organizations and developed countries, the developing countries still face significant difficulties due to their economic status while conducting transnational trade and business with developed countries and often fail to attain mutually beneficial terms and agreements. I also reviewed several other reports that outline a similar trend and pattern between bi and multilateral business agreements where less developed countries systematically failed to attain equal space in the negotiation table. Wade (2018) argues that developed countries and world organizations collectively need to address this issue and develop a sustainable framework that ensures equal and equity-based participation from less developing countries, and this will ensure collective and sustainable global socioeconomic growth.