As the CEO of a corporation with customers in every part of the globe, you hope to see more of the world's nations become members of the WTO. This would benefit firms like yours because the World Trade Organization:
A) serves as a forum for trade negotiations.
B) mediates trade disputes.
C) makes nonbinding but highly respected decisions.
D) provides technical assistance to developing countries.
E) monitors national trade policies.

Question

Quizplus · Accepted Answer

The World Trade Organization (WTO) plays a crucial role in facilitating international trade. It serves as a forum for trade negotiations (A), helping countries to come together to discuss and negotiate the terms of trade agreements. It also mediates trade disputes (B), providing a mechanism for resolving disagreements between countries over trade issues. Additionally, the WTO provides technical assistance to developing countries (D), helping them to build their trade capacity and integrate into the global trading system. Finally, it monitors national trade policies (E), ensuring transparency and adherence to agreed-upon trade rules and commitments. While the WTO's decisions are influential and member countries are expected to comply, describing them as "nonbinding but highly respected" (C) does not accurately capture the enforceable nature of its dispute resolution mechanism.

As the CEO of a Corporation with Customers in Every