WTO

WTO deals with the rules of trade between nations at a global ornear global level

WTO was set up in 1995 from the earlies GATT organisation

THERE IS A NUMBER OF WAYS AT LOOKING AT WTO

An organisation for liberalising trade

A forum for governments to negotiate trade agreements

A place for governments to settle trade disputes

It operates a system of trade rules

1. the system helps promote peace

2. disputes are handled constructively

3. rules make life easier for all

4. free trade cuts the cost of living

5. it provides more choice of products and qualities

6. trade raises income

7. trade stimulates economic growth

8. the basic principles make life more efficient

9. governments are shielded from lobbying

10. the system encourages good enviroment

some think WTO can operate unfairly against poor and weak countries. they think industrialised countries hold a powerful position in world trade that they use talks to insist their goods are accepted by poorer countries even if it means destroying the livlihood of the poor farmers in developing countries.