The 1900’s were known as a time of advancements, whether it was the automobile or the beginnings of modern day electronics, as the technology industries grew, the world became smaller. Globalization was looked at as a good thing by some, and problematic by others; however, none of those critics could predict the massive change in policy that would ensue. One major industry was greatly affected due to globalization; this industry was trade. Many different agreements were put into place as a response to globalization. What started out as GATT, transformed quickly into the WTO, World Trade Organization. The purpose of the WTO was to effectively police the policies put in place by GATT in order to combat the new abuse by the many trade industries,
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The main purpose of the WTO is to improve trade liberalization; the organization attempts to do this by conducting talks between the member nations. Unfortunately, many of these talks were unsuccessful, “trade liberalization efforts were spectacularly derailed when the WTO’s flagship project, the Doha Round, collapsed after emerging economies such as China and India grew increasingly assertive and refused to accept the terms pushed by the more-industrialized countries” (Beary 778). As well as the Doha failure, WTO also failed when the Seattle Round was stopped before the 135 attendees could even begin talking; protestors were responsible for this derailment. The WTO has been pushed out by the bilateral and regional trade treaties due to their ineffectiveness to conduct necessary …show more content…
The original purpose for the WTO was “the primary forum for liberalizing free trade worldwide by reducing barriers to free trade and arbitrating trade disputes” (Beary 768). Instead of reducing barriers and conducting mediations, the WTO failed at its duties and created more issues than needed. The bilateral and regional trade agreements allow for countries to be in control of their own trade and trading powers. Without these separate agreements, free trade would have not survived along with the World Trade
The main purpose of the WTO is to improve trade liberalization; the organization attempts to do this by conducting talks between the member nations. Unfortunately, many of these talks were unsuccessful, “trade liberalization efforts were spectacularly derailed when the WTO’s flagship project, the Doha Round, collapsed after emerging economies such as China and India grew increasingly assertive and refused to accept the terms pushed by the more-industrialized countries” (Beary 778). As well as the Doha failure, WTO also failed when the Seattle Round was stopped before the 135 attendees could even begin talking; protestors were responsible for this derailment. The WTO has been pushed out by the bilateral and regional trade treaties due to their ineffectiveness to conduct necessary …show more content…
The original purpose for the WTO was “the primary forum for liberalizing free trade worldwide by reducing barriers to free trade and arbitrating trade disputes” (Beary 768). Instead of reducing barriers and conducting mediations, the WTO failed at its duties and created more issues than needed. The bilateral and regional trade agreements allow for countries to be in control of their own trade and trading powers. Without these separate agreements, free trade would have not survived along with the World Trade