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WTO

WTO. History, and effect on free trade on world market. Establishing the WTO. Establish a World Trade Organization seems important. (ITO) A conference has been took place in Hampshire in 1994. A principle has been formed which is known as GATT, USA did not accept to participate in the ITO.

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WTO

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  1. WTO History, and effect on free trade on world market

  2. Establishing the WTO • Establish a World Trade Organization seems important. (ITO) • A conference has been took place in Hampshire in 1994. • A principle has been formed which is known as GATT, • USA did not accept to participate in the ITO. • After some round of negotiation in Uruguay round the WTO was established. • GATT become a pillar of the WTO.

  3. AIM of the WTO • Stress on Free trade. • Reduce tariff on custom and any import and export barriers. • Improve standard of livings • Expanded production

  4. Effect of the WTO in Developed and Developing Countries. • Open their market . • Domestic producers participate in trade. • Lack of power of producers = bankrupt= workers will be sacked. • The WTO allow member to make some restriction such as impose high tariff on custom. • Japan make high tariff custom on Whisky

  5. Effect of the WTO • DSM, Dispute settlement mechanism: Sanction. • EU was penalised for GM Food • import banana from El salvador and Guatmala

  6. The WTO and the Environment and human rights • Human rights are important. • Free trade and growth of economic = treat for Environment. • E.g. China: using coal • E.g fishing in Mexico

  7. Summarize • Safe place and fair competition • members can have bilateral or multilateral negotiation on their trade • E-commerce • Energy

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