WTO Flashcards

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1
Q

What is its role?

A

Deals with global rules of trade between nations ensuring trade is smooth and freely as possible

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2
Q

What is their aims?(example fo global governance)

A
  • reducing barriers
  • negotiates problems with members
  • reaching agreements that become legal
  • providing stability
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3
Q

Disadvantages of WTO?

A
  • difficult making progress so not enough being done
  • trade rules unfavourable in developing countries
  • exploitation of poorer countries
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4
Q

Advantages of WTO?

A
  • lower prices for consumers
  • encourages competition so boosts economy
  • specialisation
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