Question

W.T.O encourages globalization.explain​

Answer 1

Answer:

The World Trade Organization (WTO) is an international body whose purpose is to promote free trade by persuading countries to abolish import tariffs and other barriers. As such, it has become closely associated with globalisation. The WTO is the only international agency overseeing the rules of international trade

Answer 2

The World Trade Organization is the major player in terms of regulating trade at a global level. It sets the term within which the regional agreements can be signed. Hence, globalization is managed at a global scale from the trade perspective.

Explanation:

• More than 130 countries are a part of the WTO and they must abide by its rules in order to invest and trade.
• Furthermore, the WTO also brings a wide variety of economic sectors into the fields of the global economy.
• Political decisions made by the world governments to remove barriers to capital flows and international trade have also supported the process of globalization.

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