WTO was created in 1995 as a result of the General Agreement on Tariffs and Trade (GATT), and its primary objective is to govern international trade, by introducing regulations which guarantee free trade and enforce those rules. In case of infringement, WTO may also punish offenders. The institution has become one of the most criticized international organizations on Earth. Anti-globalists claim that WTO is not favorable to democracy and a threat to environment.
We should first look at the phenomenon of Economic Globalization itself, in order to understand the problems which it generates. In the business world, Globalization is often referred to as a comprehensive term for the emergence of a global society in which economic, political, environmental, and cultural events in one part of the world quickly come to have significance for people in other parts of the world. In other words, the interactions between people and/or companies have widespread consequences on others, even if it......
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Approximate Word Count: 505
Approximate Pages: 2 (260 words per double-spaced page) |