Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

ORG > WTO > Flashcards

WTO Flashcards

1
Q

HQ and official languages

A

Geneva, Switzerland

eng, fr, spanish

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

budget 2020

A

197.2 million Swiss francs (approx. 220 million US$) in 2020.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

when was the WTO founded

A

Founded: 1 January 1995

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

purpose

A

Purpose: Reduction of tariffs and other barriers to trade

The World Trade Organization is an intergovernmental organization that regulates and facilitates international trade between nations. Governments use the organization to establish, revise, and enforce the rules that govern international trade.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

how many members does the WTO have

A

164

160 un countries + macau, hk, taiwan, eu

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

The WTO operates the global system of trade rules and helps developing countries build their trade capacity. It also provides a ________ for its members to negotiate trade agreements and to resolve the trade problems they face with each other.

A

forum

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

wto represents over _______-of global trade and global GDP

A

98%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Director-General

A

Ngozi Okonjo-Iweala

Since March 2021, Okonjo-Iweala has been serving as Director-General of the World Trade Organization, Nigerian American

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

first Director-General of the World Trade Organization

A

Peter Sutherland

term four years

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

what is the name of the agreement that founded of the wto

A

Marrakesh Agreement, manifested by the Marrakesh Declaration, 1994

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Marrakesh Agreement, manifested by the Marrakesh Declaration

A

The Marrakesh Agreement, manifested by the Marrakesh Declaration, was an agreement signed in Marrakesh, Morocco, by 123 nations on 15 April 1994, marking the culmination of the 8-year-long Uruguay Round and establishing the World Trade Organization, which officially came into being on 1 January 1995.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

the wto replaced the

A

gatt

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

GATT

A

General Agreement on Tariffs and Trade

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

what kind of treaty is the gatt

A

Multilateral Treaty

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

The GATT was the outcome of the failure of negotiating governments to create the _____________

A

International Trade Organization (ITO).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

when and where was gatt signed

A

Signed 30 October 1947
Location Geneva, Geneva Canton, Switzerland
23 nations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

since when was it applicable on a provisional basis

A

Provisional application 1 January 1948

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

what happened to the gatt agreement

A

The WTO is the successor to the GATT, and the original GATT text (GATT 1947) is still in effect under the WTO framework, subject to the modifications of GATT 1994.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

what led to the proposal of ito

A

The GATT was first conceived in the aftermath of the Allied victory in the Second World War at the 1947 United Nations Conference on Trade and Employment (UNCTE), at which the International Trade Organization (ITO) was one of the ideas proposed. It was hoped that the ITO would be run alongside the World Bank and the International Monetary Fund (IMF).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

why did ito discussions collapse

A

More than 50 nations negotiated ITO and organizing its founding charter, but after the withdrawal of the United States these negotiations collapsed.

21
Q

why is wto facing an existential crisis

A

us has weakened the ab or appellate body by blocking any appointments made to it and vetoing any proposals to find solutions (like stalling that of the eu to est. a temporary apellate arbitration mechanism)

22
Q

since ______________, the ab has stopped functioning due to rising vacancies

A

dec 2019

23
Q

what is the function of the ab

A

It presides over appeals against judgments passed by WTO panels in trade-related disputes brought by WTO members.
Over 500 international disputes had been brought to the WTO and over 350 rulings had been issued since 1995.
With this, WTO’s dispute settlement mechanism is one of the most active in the world.

24
Q

when was the ab instituted

A

The Appellate Body of the WTO was set up in 1995 and is a standing committee of 7 members.

25
Q

are the judgements of the ab binding

A

yes

must be implemented in 30 days and non-compliance may invite sanctions

26
Q

what are the main trade disputes among two members

A

countervailing (anti-subsidy)
anti-dumping measures
zeroing methodology that inflates anti-dumping duties

27
Q

what are the reasons why us feels like the wto hasn’t served american national interests

A

has indicted the us in several trade disputes

has not stemmed china’s rise

28
Q

how does biden’s policy differ from that of trump’s

A

no difference

us has accepted favourable rulings but has raised concerns over adversee decisions

29
Q

washington has repeatedly accused the appelllate body of straying from the dsu in several disputes where us measures have been challenged. esp in countervailing and anti-dumping cases. what is dsu.

A

dispute settlement understanding

30
Q

it also claims that the ab hasn’t given decisions within the deadline of ___________

A

90 days

31
Q

what actions of the us have weakened the ab

A

blocking funds and starving it

blocking the filling of six vacancies and thereby leading to it shut down in dec 2019

32
Q

the wto is the only intl org that deals with the rules of ______

A

intl trade

33
Q

“Nairobi Package”

A

adopted in 2015 at the Tenth Ministerial Conference of the World Trade Organisation (WTO), held in Nairobi, Kenya.
Under the Ministerial Decision on Export Competition:
Developed countries had to abolish the farm export subsidies with immediate effect, with the exception of a handful of farm products.
The deadline for developing countries to eliminate the export subsidies on agricultural exports was fixed as 2018.
Flexibility was given to the developing countries for covering marketing and transport costs for farm exports extending the timeline to 2023.
Poorest and food-importing nations were given an additional time frame.
The countries also struck a deal on IT trade.
As per the deal, tariffs on 201 IT products were to be eliminated each year. The purpose behind the deal was to ensure that all IT products would become duty-free by 2019.

34
Q

how many observer governments does the wto have

A

23

35
Q

what was the last country to join the wto

A

afghanistan in july 2016

became the 194th member

36
Q

india is a ________member of gatt(1947) and its successor wto(1995)

A

founder members

37
Q

who recently became the first african and woman director general of the wto

A

Ngozi Okonjo-Iweala

only an administrative member with real power due to consensus-based nature of wto

38
Q

____________ gave birth to the wto

A

uruguay round

39
Q

The Uruguay Round

A

The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1994 and embracing 123 countries as “contracting parties”.

It took seven and a half years, almost twice the original schedule.

40
Q

_______________ is the highest policy making body of the wto

A

the ministerial conference

41
Q

on what basis are the decisions taken at the ministerial conference

A

consensus (unanimous)

they are binding

42
Q

while the gatt only deals in _____________, the wto is more comprehensive and deals with goods, services, ip, and several investment policies

A

goods

43
Q

when was the last ministerial conference held, at least how often should MCs be held

A

2017, Buenos Aires, Capital of Argentina (ecom duties, fishery subsidies, etc)
at least every 2 years

44
Q

what are the three bodies part of the governing structure of the wto

A 
the ministerial conference (highest authority, all mems)
general council (all wto mem) - which convenes in two forms the dispute settlement body and trade policy review body (of indivdual trade policies of membs.)
45
Q

general council reports to the

A

ministerial conference

46
Q

when will MC12 be held

A

postponed indefinitely as of feb 2022

47
Q

when was mc12 supposed to be held

A

26 nov 2021 - 3 dec 2021
in geneva hosted by kazakhstan
second time it has been postponed

48
Q

when was it supposed to be held initially

A

June 2020 in Nur-Sultan, Kazakhstan.

49
Q

why did both postponements of mc12 happen

A

corona (2nd postponement due to omicron)
The General Council agreed on 26 November 2021 to postpone the 12th Ministerial Conference (MC12) after an outbreak of a particularly transmissible strain of the COVID-19 virus led several governments to impose travel restrictions that would have prevented many ministers from reaching Geneva. MC12 was due to start on 30 November 2021 and run until 3 December 2021. No date has been set for the rescheduling of the Ministerial Conference. This marks the second time that the pandemic has forced a postponement of MC12. The meeting was originally due to take place in June 2020 in Nur-Sultan, Kazakhstan.

ORG (12 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions