GK
WORLD ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Unfair practices such as dumping and export subsidies are discouraged. What principle is this?
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Non-discrimination
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Free trade
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Predictability
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Promotion of fair competition
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Development and economic reform should be encouraged
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Explanation:
Detailed explanation-1: -The rules on non-discrimination-MFN and national treatment-are designed to secure fair conditions of trade. So too are those on dumping (exporting at below cost to gain market share) and subsidies.
Detailed explanation-2: -Dumping is an action by a company. With subsidies, it is the government or a government agency that acts, either by paying out subsidies directly or by requiring companies to subsidize certain customers.
Detailed explanation-3: -The principle of non-discrimination. First, the principle of non-discrimination stipulates that a member shall not discriminate: between “like” products from different trading partners (giving them equally “most favoured-nation” or MFN status, GATT Article I); and.
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