do you think that they really help make a better economy society?in which point make you think so?
2006-11-03 19:15:35 · 4 answers · asked by 311y 1 in Social Science ➔ Economics
WTO= WORLD TRADE ORAGANIZATION
2006-11-03 19:22:21 · update #1
IMHO, i think that WTO is just one of the factors which help make the global economy more viable. Fundamentally, they aim to eliminate trade barriers across the world to facilitate international trade. Currently, I think that this applies more to the developed countries. DCs are currently using protectionistic barriers to trade so as to gain short-term benefits. With the aid of WTO, trade liberalization will lead to long-term gains from trade, such as increased world output, according to the theory of comparative advantage.
With respect to the LDCs, there's the IMF and World Bank which loans funds to aid their economic and social development . In their case, I think that not only do they have to get out of national debt and set up the infrastructure; individual economies and banking systems have to undergo major restructuring before they are able to benefit from free trade in the long-term.
2006-11-03 22:24:43 · answer #1 · answered by peekaboo_char 1 · 0⤊ 0⤋
The World Trade Organisation helps countries trade with each other. It sets standards and tries to resolve disputes. It ideally seeks to remove all trade barriers to trade between countries, but many countries acting in their own self-interest will try to 'protect' their markets.
Do not blame the WTO if countries do not play fair. US protection of its steel industry, EU/Japanese/Korean protection of their agricultural sectors, Chinese copyright violations etc. are not caused by the WTO
2006-11-04 03:36:01 · answer #2 · answered by Mardy 4 · 0⤊ 0⤋
wuts wto
2006-11-04 03:17:41 · answer #3 · answered by bluffmaster_totaly 1 · 0⤊ 0⤋
"WTO" stands for what in your world?
2006-11-04 03:17:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋