Is Wto still around?

Question

Well im frm seattle... and i just saw on yotube something about wto whats it about and is it still around today? please know i have no idea what its about.

Answer 1

Yes...it is still around and still controversial.

The WTO is an international organization designed to supervise and liberalize international trade. The WTO came into being on January 1, 1995, and is the successor to the General Agreement on Tariffs and Trade (GATT), which was created in 1948, and continued to operate for almost five decades as a de facto international organization.

The World Trade Organization deals with the rules of trade between nations at a near-global level; it is responsible for negotiating and implementing new trade agreements, and is in charge of policing member countries' adherence to all the WTO agreements, signed by the bulk of the world's trading nations and ratified in their parliaments.[3] Most of the WTO's current work comes from the 1986-94 negotiations called the Uruguay Round, and earlier negotiations under the GATT. The organization is currently the host to new negotiations, under the Doha Development Agenda (DDA) launched in 2001.[4]

The WTO is governed by a Ministerial Conference, which meets every two years; a General Council, which implements the conference's policy decisions and is responsible for day-to-day administration; and a director-general, who is appointed by the Ministerial Conference. The WTO's headquarters are in Geneva, Switzerland.

The WTO has 151 members (almost all of the 123 nations participating in the Uruguay Round signed on at its foundation, and the rest had to get membership).[69] The 27 states of the European Union are represented also as the European Communities. WTO members do not have to be full sovereign nation-members. Instead, they must be a customs territory with full autonomy in the conduct of their external commercial relations. Thus Hong Kong became a GATT contracting party, and Chinese Taipei (Republic of China) acceded to the WTO in 2002.[70] A number of non-members have been observers (32) at the WTO and are currently negotiating their membership. With the exception of the Holy See, observers must start accession negotiations within five years of becoming observers. Some international intergovernmental organizations are also granted observer status to WTO bodies.[71] 14 states and 2 territories so far have no official interaction with the WTO.

Answer 2

Yes it is around and also widely HATED in many  parts of the world.

Answer 3

The WTO is an acronym for the organization called the World Trade Organization. It is basically an organization that promotes the principles of free trade and provides for a place where member nations can address trade disputes.

The WTO, for example, is where the US went to complain that Europe was unfairly giving money to Airbus (a European airline production company) so that it had a competitive advantage against Boeing (an American airline production company).

The main agenda of the WTO is to promote free trade, or the elimination of government tariffs and other barriers to trade. They want to make it so that there is an unrestricted flow of goods from one nation to the other. This is because there is an economic theory of comparative advantage that states that this would lead to the greatest benefit for all the nations involved.

The WTO is often the subject of a lot of criticism , however, because some argue that it favors developed nations like the US over developing nations like Nigeria. There is also some question over whether, in practice, free trade is good for all the parties involved. There is some recent academic work pointing to the poor performance of countries that have embraced free trade (like El Salvador and much of Latin America) compared to nations that have not (like China, South Korea, Vietnam, etc.)