Outline the development of the World Trade Organisation and critically evaluate its role in the twenty first century.
The World Trade Organisation (WTO) came into being on the 1st January 1995. It is based in Geneva, Switzerland and was created by the Uruguay Round negotiations. It is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War. While the WTO is still young, the trading system that was originally set up under GATT is already 55 years old. With 144 member countries, the WTO has six main functions: administering trade agreements; acting as a forum for trade negotiations; settling trade disputes; reviewing national trade policies; assisti…
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