The WTO Flashcards
1
Q
What are the aims of the WTO?
A
To ensure global trade commences smoothly and freely and in the process promote trade liberalism. The WTO also deal with the rules of trade between nations.
2
Q
How is the WTO funded?
A
By its members the main contributors being the USA, China and Germany.
3
Q
What are the positives of the WTO?
A
164 countries are members.
Its rules have to be followed by everyone and as a result reduces trade protectionism.
Helps during trade disputes as they act as a third party who without bias can decide the trade laws. See CHINA-USA raw metals negotiation.
