Geography, asked by Maddhy2040, 8 months ago

List the functions and criticism of World Trade Organisation (WTO).

Answers

Answered by TEJASRI23

Answer:

Criticisms of the World Trade Organisation:

Free trade policy pursued by the WTO over the years has widened the income gap between rich and poor nations, instead of minimising the gap. Secondly, WTO functions in a discriminatory way as it is more biased to the rich countries and MNCs.

Criticisms of WTO

Free Trade benefits developed countries more than developing countries. ...

Most favoured nation principle. ...

Failure to reduce tariffs on agriculture. ...

Diversification. ...

Environment. ...

Free trade ignores cultural and social factors. ...

The WTO is criticised for being undemocratic. ...

Slow progress.

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