World trade organisation

Question

should the world trade organisation be the only entity involved in solving trade disputes?

if yes, should they have the authority to coordinate the reduction of trade barriers?

Answer 1

No world trade organization (WTO) should not be the sole institute in trade solving disputes. Since its is so large and so inefficient that it takes months to settle a dispute. It also very quickly dismisses others. Its one of those organizations who exploit the poor making them poorer while the rich keep getting richer, they never agree with the producer (3rd world) countries to allow them to have a fair trade deal, as they are too interested in protecting their own market. If they allow the producer markets to have decent trades then you will see how much money they will be loosing.

Its simple, they buy 1 kg of bananas for 10 cents, they sell it for 2 dollars, that's a huge profit, even when you consider transportation and all that they still make a huge profit. Opposed to them having to buy these bananas for 80 cents and still selling them for 2 dollars, while they will make less profit the poor people will manage to leave poverty eventually, as not they are only making enough money to eat anthat'sts it.

Its also true that the people in WTO are not interested in the poor their only interest is their pockets.

Answer 2

No!!! No one entity should have that much power. Remember that trade virtually controls a countries economy. So in-essence that organization would rule the world. Now that would be scary!!!!!!

Answer 3

I think you need to reduce trade barriers in order to be member of World Trade Organization.

Answer 4

Every country or international organization are responsible for the reduction of trade barriers.