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8. How successful have GATT and the WTO been in creating global free trade? The GATT, otherwise known as "the general agreement on tariffs and trade" was established in 1947. It started with 23 founding members including the UK, its goal was to establish free trade between nations, it would do this by eliminating tariffs, subsidies, import quota's and any other form that would restrict the freedom of trade between any given country within its membership. It would achieve this not in the short term but over a series of eight rounds of discussions between the member countries in which the strategies to dissemble such barriers to trade would be discussed. After the last round of discussions in Uruguay (1986-93) it was decided that clarification and strengthening of GATT ideologies were needed, out of this desire the World Trade Organisation (WTO) was formed. The WTO was a formal organisation with...

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