Asked by Cassandra Thomas on Sep 27, 2024

The World Trade Organization has been criticized for:

A) Taking a largely free-trade philosophy over a fair trade philosophy.
B) Failing to reduce trade barriers that encourage free trade.
C) Imposing harsh penalties on country's that fail to protect labor and environmental interests.
D) Imposing sanctions on countries that set up barriers to free trade.

World Trade Organization

is an international organization established to oversee and facilitate international trade agreements, negotiations, and resolution of trade disputes between countries.

Free-Trade Philosophy

A belief system advocating for minimal governmental intervention in international trade, favoring a more open and less restricted trading environment.

Trade Barriers

Measures implemented by governments to regulate or restrict international trade, such as tariffs, quotas, and regulations, aiming to protect domestic industries.

  • Analyze the function of leading international entities and their policies in structuring economic relations between nations.