Global Systems - WTO

Question 1

What does WTO deal with ?

Answer 1

Global rules of trade between nations.

Facilitating trade.

Question 2

Main aims

Answer 2

Supervise /liberalise trade by reducing barriers.
Sort out trade problems.
Negotiate trade agreements to establish ground rules.
Stability for nations - no change.

Question 3

When did WTO start?

Answer 3

1995

Question 4

How many members ?

Answer 4

160 3/4 in LICs

Question 5

Uruguay round ?

Answer 5

Reduced barriers on trading manufacturing goods - this is ongoing.

Question 6

When did the Uruguay round come into force?

Answer 6

1986-1994

Question 7

Doha development agenda?

Answer 7

Reforming trade in agriculture produce.

Between HICs and LICs.

Question 8

Where and when Doha development?

Answer 8

2001

Qatar’s capital .

Question 9

What were the hopes in 2008 from Doha talks??

Answer 9

Tariffs reduced by 30%

Reduction in subsidies paid to produce farm products.

Question 10

If richer counties adhered to Doha talks what would happen ??

Answer 10

Benefits for trade in LICs .
Reduction of food prices in HICs.
Fairer prices for farmers.

Question 11

Problems from Doha talks??

Answer 11

USA/ EU / Japan wanted Brazil / China / India to open markets to westerns manufactured goods.
Larger cuts in farm tariffs paid to protect farmers in USA and EU

Question 12

Why did Doha talks collapse?

Answer 12

Disagreement between USA / China and India who wouldn’t compromise on size of tariffs.