World Trade Organisation

Question 1

Establishment

Answer 1

• 1995
• replaced GATT
• aims to oversee a free trade system across the world

Question 1

Aims

Answer 1

• settle trade dispute
• oversee trade in services
• protection of intellectual property and manage non tariff barriers

Question 2

strengths

Answer 2

• decisions made by a simple majority: efficient
• 66% of members are developing countries making them more powerful than in the IMF
• trade barriers reduced by 37% between 1947-2000

Question 3

weaknesses

Answer 3

• too powerful: forces members too change their policies even if they don’t want to
• decision making is dominate by the West
• don’t deal with the social or environmental aspect of trade

Question 4

rules favouring the west example

Answer 4

• agricultural subsidies in wealthy nations such as the EU have been harmful to farmers in poorer countries