Wikileaks has warned that governments negotiating a far-reaching global service agreement are 'surrendering a large part of their global sovereignty' and exacerbating the social inequality of poorer countries in the process.

The Trade in Services Agreement exposed in a 17 document dump by Wikileaks on Thursday relates to ongoing negotiations to lock market liberalisations into global law.

If a country like China wanted to join, it would have to scrap all discriminatory practices against foreign firms – so discrimination against a foreign firm opening a hospital in China would be banned, for example.

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Under the agreement, retailers like Zara or Marks & Spencers would have the right to open stores in any of the signing countries and be treated like domestic companies. A nationalised service, such as the British telecoms industry in the eighties, would have to ensure it was not harming competition under these terms.