ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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help give guidelines for trade between member countries and help settle trade disputes
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keep trade from happening between China and the United States
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set the price of oil
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set prices for imports and exports for the European Union
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Detailed explanation-1: -The WTO operates the global system of trade rules and helps developing countries build their trade capacity. It also provides a forum for its members to negotiate trade agreements and to resolve the trade problems they face with each other.
Detailed explanation-2: -WTO dispute settlement provides mechanisms for resolving trade disputes between members of the World Trade Organization (WTO). The WTO’s Understanding on Dispute Settlement provides WTO members with a legal framework for resolving trade disputes that arise between them in implementing WTO agreements.
Detailed explanation-3: -In brief, the World Trade Organization (WTO) is the only international organization dealing with the global rules of trade. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
Detailed explanation-4: -India’s export competitiveness has been improved by the WTO. The lower tariff has helped integrate with the global economy more efficiently. India’s growth and development have been pursued by transferring and exchanging technology and ideas. There is a reduction in cost and time due to market access.
Detailed explanation-5: -THE FOUR ROLES OF THE WTO. Progressive opening and regulation of markets. The WTO’s mission is to open markets gradually while ensuring that rules are respected. The WTO acts as conductor, tribunal, monitor and trainer. Orchestra conductor. How do trade negotiations work? Tribunal. Monitor. Trainer. More items