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 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.

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

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

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

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

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