2globalization are many. The World Bank report by Paul Collier and David Dollar (2001) says that although globalization presents considerable opportunities for developing countries, it also contains significant risks. Associated with internationalintegration are concerns about increasing inequality, shifting power, and culturaluniformity. Some of the intense impacts of globalization can be seen on small farmersand rural communities, both in developed and developing countries. While some people champion the arrival of globalization, such optimism hides the negativeimpacts that accompany what should more appropriately be called corporateglobalization. Corporate globalization affects both rural and urban areas, but itsimpacts on rural communities are diverse and profound (Jennifer Sumner, 2001).
Prime Movers of Globalization
The World Trade Organization (WTO) is the international organization dealing withthe rules of trade between nations. General Agreement on Tariffs and Trade (GATT)functions as the foundation of the WTO trading system, and remains in force. As inJanuary 2007, 150 countries are members of the WTO. In becoming Members of theWTO, these countries undertake to adhere to the 18 specific agreements. Of theseagreements, Trade-Related Aspects of Intellectual Property Rights (TRIPS) appears tohave greatest impact. The World Bank and the International Monetary Fund (IMF) play a vital role in the process of economic globalization