The WTO sets the rules for world trade. Its aim: freer trade between its members.
What the WTO does
Agreements
Members negotiate lower tariffs and fewer barriers, binding on all of them.
Settling disputes
A member that breaks the rules can be taken to a WTO panel.
Monitoring
It reviews members' trade policies and publishes them.
Equal treatment
A tariff cut for one member must be given to all: "most favoured nation".
The points to remember
- Write it like this: "The WTO promotes free trade by negotiating lower barriers, settling disputes and monitoring members' policies."
- Over 160 countries are members.
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It is less powerful than its rules suggest.
What limits its influence
Farming and services
Rich countries protect farmers; services rules are complex. The Doha Round, launched in 2001, never finished.
Unequal power
Large economies have more negotiators and more to offer than small, poor ones.
A stalled court
Since December 2019 its appeals body has not worked: the United States blocked new judges.
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A Paper 1 part (a) in this shape could appear for 10 marks.
Explain the role of the World Trade Organization (WTO) in promoting free trade.
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How the 10 marks are given
| Marks | What your answer needs |
|---|---|
| 9–10 | Theory fully explained, terms used correctly all the way through, the diagram included and fully explained |
| 7–8 | Theory explained, terms mostly right, the diagram included and explained |
| 5–6 | Theory partly explained, some terms, the diagram included |
| 1–4 | Theory only described or stated; few relevant terms |