World Trade Organization: Success or Failure
It has been more than 20 years since the World Trade Organization (WTO) came into existence. However, there is still considerable debate as to whether it has been a success or a failure. The objective of the World Trade Organization (WTO) was to foster efficient economic activity across the globe. This was to be done by promoting mutually beneficial trade and opposing trade wars between nations.
The general perception is that the World Trade Organization (WTO) has failed to meet its objectives. However, there are many who still believe that this organization is doing a great job. In this article, we will understand both sides of the argument.
Reasons behind the Failure of World Trade Organization (WTO)
Reasons behind the Success of World Trade Organization (WTO)
To sum it up, there is no real consensus on the success or failure of WTO. There are many people who believe that it is an unfair organization that works for the benefit of already developed nations. These people believe that the interests of developing nations are marginalized by the WTO. However, there are many others who believe that WTO has greatly improved the standard of living and trade opportunities available to developing nations.
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