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World Trade Organisation Video Lecture | Geography Class 12 - Humanities/Arts
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FAQs on World Trade Organisation Video Lecture - Geography Class 12 - Humanities/Arts
| 1. What is the World Trade Organisation (WTO)? |  |
Ans. The World Trade Organisation (WTO) is an international organization that deals with the global rules of trade between nations. It is responsible for ensuring that trade flows as smoothly, predictably, and freely as possible.
| 2. How does the WTO promote fair trade? | |
Ans. The WTO promotes fair trade by providing a platform for negotiations among member countries, where they can discuss and resolve trade disputes. It also establishes rules and regulations that govern international trade, ensuring that countries follow non-discriminatory practices and do not impose unfair trade barriers.
| 3. What are the benefits of being a member of the WTO? | |
Ans. Being a member of the WTO provides several benefits, including access to a fair and predictable trading system, increased market opportunities for businesses, protection of intellectual property rights, and a platform for resolving trade disputes through a rules-based mechanism.
| 4. How does the WTO impact developing countries? | |
Ans. The WTO aims to benefit developing countries by providing them with technical assistance and capacity-building programs to enhance their participation in global trade. It also encourages developed countries to provide preferential treatment to products from developing countries, helping them integrate into the global economy.
| 5. What are some of the challenges faced by the WTO? | |
Ans. The WTO faces challenges such as rising protectionism, trade disputes between member countries, and difficulties in reaching consensus on key issues. Additionally, the organization is often criticized for not adequately addressing concerns related to environmental sustainability, labor rights, and social standards in trade agreements.
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Dec 23, 2024 Last updated |
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