408 INTERNATIONAL FINANCIAL MANAGEMENT
the second level of authority of the WTO. The General Council has representatives
(usually ambassadors or equivalents) from all member governments and acts on behalf
of the Ministerial Conference on all WTO affairs. The Dispute Settlement Body con-
sists of all member governments, usually represented by ambassadors or equivalents.
The General Council of WTO also meets as the Trade Policy Review Body whenever
trade policy reviews need to be made.
• The third level of authority: There are three trade councils of the WTO—(i) the Council for
Trade in Goods, (ii) the Council for TRIPS, and (iii) the Council for Trade in Services—
which constitute the third level of authority. Besides these three councils ...