World Trade Organisation Overview

The World Trade Organisation (WTO) is a global entity established in 1995 to regulate international trade among nations. It consists of 164 member countries and aims to facilitate trade by establishing business regulations, addressing conflicts, and assisting developing countries. Originating from the General Agreement on Tariffs and Trade (GATT), the WTO plays a crucial role in global economic management. While it promotes free trade and reduces conflicts, it also faces criticism for potentially harming local economies and human rights. The WTO's operations are managed by member nations, with decisions made by ministers or delegates. Despite controversies, the WTO remains a pivotal institution in global trade.

When was the World Trade Organisation established?

• 1990

• 2000

• 1995

• 2005

How many member countries did the WTO have as of 2021?

• 170

• 164

• 160

• 150

What is the primary mission of the WTO?

• To manage international environmental agreements

• To aid manufacturers, exporters, and importers in global trade

• To establish global political policies

• To regulate global financial markets

From which agreement did the WTO originate?

• The Maastricht Treaty

• The Paris Agreement

• The General Agreement on Tariffs and Trade (GATT)

• The Kyoto Protocol

Which of the following is NOT a primary goal of the WTO?

• Establishing international business regulations

• Assisting developing countries in global trade

• Addressing commercial conflicts

• Promoting global environmental policies

What is the legal framework of the WTO based on?

• International treaties

• National laws

• UN resolutions

• WTO contracts

What is one criticism of the WTO mentioned in the video?

• It focuses too much on environmental issues

• It has too few member countries

• It promotes too much transparency

• It weakens national sovereignty

Which US President considered withdrawing from the WTO?

• Joe Biden

• Donald Trump

• George W. Bush

• Barack Obama

What is a benefit of the WTO according to its proponents?

• It focuses on local economies

• It increases national sovereignty

• It promotes free trade and reduces trade conflicts

• It limits globalisation

What is a potential negative impact of the WTO on local economies?

• Increased local employment

• Strengthened local industries

• Deterioration of local economies

• Improved local governance