How did GATT prevent the repeat of the economic disaster that occurred after World War I?
A) It provided short-term loans to struggling nations.
B) It promoted dumping policies to allow stronger ties between member nations.
C) It fostered isolationism for nations that were market leaders.
D) It provided for a third party, the United Nations, to negotiate peace treaties.
E) It provided a forum for member countries to negotiate a reduction of tariffs and other barriers to trade.

Question

Quizplus · Accepted Answer

GATT (General Agreement on Tariffs and Trade) aimed to prevent economic disasters similar to those after World War I by creating a platform where member countries could negotiate the reduction of tariffs and other trade barriers, thus promoting international trade and economic stability.

How Did GATT Prevent the Repeat of the Economic Disaster