September 2010
Beginner
464 pages
13h 18m
English
Content preview from India and the Dynamics of World PoliticsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Chapter 3
World Trade Organization
World Trade Organization (WTO) deals with the rules of trade between nations at a global or near-global level. It is an organization for liberalizing trade by negotiating trade agreements. It sets transparent and predictable rules for free flow of trade and settles disputes (if any) that arise during the process. WTO works for ‘Multilateral’ trading system as most of the nations are members of the system while others are not, as a result of this words like ‘global’ or ‘world’ are not used in place of multilateral.
It envisages a freer trading system without discrimination, predictable, more competitive and more beneficial for less developed countries. In recent years, economy is driving the world politics and ...
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