Property rights, human rights, and the new international trade regime

This article examines how the empowering of the multinational corporation (MNC)(1) under the World Trade Organization (WTO) agreements affects the human rights of least developed country citizens (LDC). In addition to limited liability, the MNC under the WTO agreements now enjoy the benefits of ease of entry, exit, repatriation of profits, freedom of business activity generally, and more importantly, very strong property rights protection. The article highlights some conflicts of interest arising between MNC and LDC states and its citizens, and the battle between MNC property rights protection and the observance of fundamental human rights, and looks at ways of addressing these problems.