Chapter 15.4

Question 1

World Trade Organization

Answer 1

An organization for liberalizing trade

Question 2

Objectives and functions of the WTO

Answer 2

Administer WTO trade agreements
Provides a forum for negotiations
Handles trade disputes
Monitors national trade policies
Provides technical assistance and training for developed countries
Facilitates co-operation with other international organizations

Question 3

Criticisms of the WTO

Answer 3

Accused of promoting trade rules that don’t favor developing countries
Unable to reach an agreement on agricultural protection and services
Accused of not distinguishing between developed and developing countries
Accused of ignoring environmental and labor issues
WTO members have unequal bargaining power

Question 4

Challenges faced by the WTO

Answer 4

Fragmentation of global trade
Blocking of its powers to resolve disputes