Lecture 6 Flashcards
1
Q
WTO principles
A
1) non- discrimination
2) transparency
3) reduce barriers progressively
4) negotiates
5) fair trade
6) special and differential treatment for developing countries
2
Q
What does WTO do
A
in negotiations members bid import tariff which gives traders confidence
3
Q
Benefits of WTO
A
1) arguably helped trade
2) respected institutions
3) helped avoid an increase in protectionism
4
Q
Drawbacks of WTO
A
1) some rules were abused
2) failed to get significant reforms in agriculture or make much progress on services
