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Outline the historical and current role of the GATT and WTO in regulating world trade - Use an issue of your choice to demonstrate the effectiveness of the WTO in today's global economy
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Introduction to the Global Economics Coursework Assessment Two: Outline the historical and current role of the GATT and WTO in regulating world trade. Use an issue of your choice to demonstrate the effectiveness of the WTO in today's global economy. _________________________________________ The aim of my essay is to explain the GATT and its former role and its successes and downfalls, which will explain why it was replaced by the WTO. I will then describe the function of the WTO and it's benefits and downfalls. I will then using an example taking from the free trade environment comment on the effectiveness of the WTO in regulating world trade in today's global economy. The GATT (General Agreement on Trade and Tariffs) was established after the Second World War in 1947 with the first meeting commencing on the 1st January 1948. Originally there were 23 member countries and their membership was voluntary, as it had failed...
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