CH 40 The WTO

Question 1

What is the WTO?

Answer 1

An international organisation that promotes free trade by persuading countries to abloish tariffs and other trading barriers

Question 2

What are the main activities of the WTO?

Answer 2

-Trade negotiations
-Implementation and monitoring
-Settling trade disputes
-Building membership

Question 3

What are the main criticisms of the WTO?

Answer 3

-It is undemocratic
-It favours the rights of corporations over those of the workers
-It is destroying the enviornemnt
-It favours wealthy nations over poorer ones
-Causes hardships for poorer nations

Question 4

What are the reasons why trade has boomed?

Answer 4

-Better transportation and communication
-Relaxing of trade barriers
-Development of MNCs
-Travel and consumer awareness
-Trade agreements

Question 5

What are the reasons why trade has boomed in developed countries?

Answer 5

-Loss of trade in manufacturing
-More air travel
-Widening of the developmnt gap

Question 6

What are the reasons why trade has boomed in developing countries?

Answer 6

-An increase in migration
-Increased FDI
-Rise in commodity dependence
-Debt cancellation
-Reduction in trade barriers