Evaluate the significance of the WTO to international trade and it's impact on the performance of MNE's

Question

Evaluate the significance of the WTO to international trade and it's impact on the performance of MNE's

Answer 1

USA wrote a patent law to 'protect' its genetically modified seeds.  A US company came to India selling those seeds, got farmers locked in.  The crops failed.  Farmers went bankrupt.  Their only escape? Suicide.  In 1000s.  Why?  India is a member of WTO and is locked up to honour the patents system.  Thus tying its own hands from protecting its own people.

Read http://gnugalaxy.wordpress.com/2007/09/2...

Answer 2

WTO lowers the prices of commodities in the member countries due to the decrease of tariff rates between the goods exchanged through trade.