Question

What has the world trade organization done to promote trade? What would business be like without this agreement? What countries are benefiting most from this agreement? Are there any countries hurt by this agreement? Why or why not? What changes would you recommend?

Answer 1

The world trade organization is a central world counsel to promote free trade among the different countries in the world so that there is free flow of goods between the countries. Without this agreement, there would be only bilateral agreements between two countries and no country could follow a multilateral trade agreement. With the WTO, a multilateral agreement between multiple countries as been achieved. The developing or underdeveloped countries would benefit the most. No country would be hurt as there would be mutual benefits for all countries. However, some developed nations like US consider this to be hurting them at the expense of emerging nations. I would recommend them to make the free movement of goods even more easier in the coming years and prevent monopolies.