What threatens Russia to join WTO

Russia’s accession to the WTO implies both positive and negative consequences. The first include the possible acceleration of GDP growth, which is calculated to increase from 3 to 11 per cent, as well as the creation of prerequisites for improving the business climate on the global political scene and eliminating administrative barriers. Also a nice addition should be America’s repeal of the Jackson Vanik Amendment, which restricts trade with Russian companies.

The negative consequences of accession to WTO, which are much greater, include, for example, the destruction of domestic industry and agriculture. Because of the sharp reduction in duties on imported goods, they will fill Russian counters. And their cheap cost compared to domestic counterparts will result in Russian manufacturers simply not being able to compete with them.

Since under the terms of the WTO, Russia will refuse to support certain industries through subsidies or concessional taxes, there will be massive bankruptcies of enterprises, unemployment, $ the inability of a country to provide its own market and, as a result, dependence in all spheres on other countries.$ Thus, the pharmaceutical, automotive, food industry and many others may lose their existence. And the Russian consumer will completely switch to the use of cheap goods and consumption of genetically modified products.

There will also be raised to global prices for transport rates, fuel and electricity. Thus, it will be necessary to pay equal value for the enjoyment of the natural wealth of the native country. And since the average income of Russians is much lower than, for example, Europeans, this can lead to poverty and, as a result, lower life expectancy.

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