Which one of the following is not trueregarding the World Trade Organi...
Correct, option A is not true regarding the World Trade Organization (WTO). The WTO allows for free trade among its member countries, but it also allows for certain trade barriers, such as tariffs, to be applied in certain circumstances. The aim of the WTO is to liberalize international trade and establish rules for fair and predictable trade among its member countries. The organization works to promote free trade by encouraging member countries to reduce tariffs and other trade barriers, but it does not force countries to remove trade barriers entirely. Developing countries, in particular, have some flexibility to maintain trade barriers to protect their domestic industries and economies.
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Which one of the following is not trueregarding the World Trade Organi...
Explanation:
The correct answer is option A: It allows free trade to all countries without any trade barriers.
The World Trade Organisation (WTO) is an international organization that deals with the global rules of trade between nations. It was established in 1995 and is based in Geneva, Switzerland. The WTO aims to promote and facilitate international trade by establishing rules and regulations that govern trade relations between its member countries.
Key Points:
- WTO's aim to liberalise international trade: One of the main objectives of the WTO is to promote and facilitate the liberalization of international trade. This means reducing barriers to trade such as tariffs, quotas, and other restrictions that hinder the movement of goods and services across borders. The WTO encourages member countries to lower trade barriers and adopt more open and transparent trade policies.
- Establishing rules regarding international trade: The WTO plays a crucial role in establishing and enforcing rules and regulations governing international trade. It provides a platform for negotiations and dispute resolution among member countries. The WTO has a set of agreements that cover various aspects of trade, including goods, services, intellectual property, and trade-related aspects of investment.
- Forced removal of trade barriers for developing countries: It is not accurate to say that WTO rules have forced developing countries to remove trade barriers. In reality, the WTO recognizes the different levels of development among its member countries and provides special treatment and flexibility for developing countries. These countries are given longer time frames and additional support to implement WTO agreements and gradually liberalize their trade regimes.
- Not allowing free trade without any trade barriers: The WTO does not advocate for completely unrestricted and barrier-free trade. While it aims to reduce trade barriers, it also recognizes the need for certain trade restrictions to protect national interests. The WTO allows member countries to impose legitimate trade measures, such as safeguard measures to protect domestic industries from sudden import surges or anti-dumping measures to counter unfair trade practices.
In conclusion, the statement "It allows free trade to all countries without any trade barriers" is not true regarding the World Trade Organisation (WTO). The WTO aims to liberalize international trade, establish rules, and provide a platform for negotiations and dispute resolution. It does not advocate for completely unrestricted trade and allows member countries to impose legitimate trade measures.
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