Wto assignment
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The document discusses Niskanen's view that the World Trade Organization (WTO) may be the most effective international agency. It notes that 85% of the world's population and 95% of world trade have agreed to WTO's rules and dispute settlement procedures. Additionally, several groups have tried to use the WTO to enforce non-trade rules around labor, the environment, and competition. However, the WTO has resisted expanding its mission and operates with a relatively small annual budget of $80 million.
Wto assignment
- 1. In the words of Niskanen (2000), the World Trade Organization (WTO) may be the single most effective international agency. WTO constitutes of 85 percent of the worlds population and about 95 percent of world trade has chosen to bind themselves to the WTOs rules and dispute settlement procedures.The author also describes that WTO has been so successful that numerous groups have petitioned to use the WTO to enforce a range of nontrade rules affecting labor, the environment, and competition policy. But again the author sees the WTO as a bargain in that its budget is around $80 million a year, barely more than the rounding error in U.S. federal budgets. The reasons for the relative success of the WTO, according to Niskanen (2000) are that, it has been focused on modest and broadly shared trade concerns. By modest the author means that the WTO, almost alone among international bureaucracies, has self-consciously resisted both internal and external pressures to expand its mission. He tries to compare it to theBretton wood institutions(International Monetary Fund and World Bank) . 1|Page