WTO Flashcards
1
Q
What is its role?
A
Deals with global rules of trade between nations ensuring trade is smooth and freely as possible
2
Q
What is their aims?(example fo global governance)
A
- reducing barriers
- negotiates problems with members
- reaching agreements that become legal
- providing stability
3
Q
Disadvantages of WTO?
A
- difficult making progress so not enough being done
- trade rules unfavourable in developing countries
- exploitation of poorer countries
4
Q
Advantages of WTO?
A
- lower prices for consumers
- encourages competition so boosts economy
- specialisation
