what is WTO mention its aims mention its limitation (short answer) but best answer
Answers
Answer:
Explanation:
The WTO is a forum which discusses the differences on trade between members.
Answer:
WTO stands for World Trade Organisation.
WTO major Objectives are:-
- The WTO is a forum which discusses the differences on trade between members.
- Is Transparency and predictability.- Establish a system of trade rules between countries.
- The WTO makes more efficient the specialization of a country with a product, getting better advantages.
- Help to balance the trade between countries.
WTO major Limitation is:-
Free trade may prevent developing economies develop their infant industries. For example, if a developing economy was trying to diversify their economy to develop a new manufacturing industry, they may be unable to do it without some tariff protection.
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