Question

critically examine the function of wto​

Answer 1

»WTO stands for World Trade Organisation.


»WTO says that the barriers to foreign trade is harmful and all countries should liberalise their policies.


»It aims at achieving global liberalisation.


»Started at the initiative of developed countries, 162 countries are currently the member of WTO (as per July 2016) .


»WTO makes rules and regulations regarding the foreign trade and checks if these rules are being followed or not.


»But the situation shows that developed countries have retained trade barriers, leading to the hardship for farmers.


»The product of outside countries become cheaper due to subsidies and the local good doesn't get any sale.

Answer 2

Answer:

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