World+Trade+Organisation

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====The World Trade Organisation (WTO) is an international organisation which oversees a large number of agreements covering the "rules of trade" between its member states. It was created in 1995 as a secretariat to administer the General Agreement on Tariffs and Trade Unlike many other international organisations, the WTO has significant power to enforce its decisions, through the operation of its Dispute Settlement Body title WTO Dispute Settlement Body, an international trade court with the power to authorise sanctions against states which are not complying with its rulings. Where most international organisations operate on a one country, one basis, WTO agreements (and revisions to them) must be adopted by consensus. Commentators have concluded that the consensus governance model moves power away from developing countries, and towards large first world states, who can veto proposals they object to, and prevent formal dissent on most measures they support. In addition, the system in which agreements, once adopted, are very hard to change, is skewed in favour of states that can continuously devote substantial resources to the analysis and negotiation of treaty terms. The strength of the general agreement model is that it allows extremely rapid globalisation and agreement to standards, which would take much longer (or not occur at all) in other fora.====

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The World Trade Organisation helps us by making and enforcing rules so that our trade system is fair.
Some, especially multinational corporations, believe that the WTO is great for business. Others believe the WTO will undermine the principles of democracy and simply make the rich much richer.
 * What some people think about the World Trade Organisation**