The trade agreement that represented the most significant change to the regulations governing global trade during the 1990s was the _____.
A)Maastricht Treaty of Europe
B)North American Free Trade Agreement
C)World Trade Organization
D)AsiaPacific Economic Cooperation
E)Asian Free Trade Arrangement

Question

The trade agreement that represented the most significant change to the regulations governing global trade during the 1990s was the _____.
A)Maastricht Treaty of Europe
B)North American Free Trade Agreement
C)World Trade Organization
D)Asia­Pacific Economic Cooperation
E)Asian Free Trade Arrangement

Quizplus · Accepted Answer

The World Trade Organization was established in 1995 and represented a significant change to the regulations governing global trade in the 1990s. It replaced the General Agreement on Tariffs and Trade (GATT) and aimed to further liberalize and regulate international trade. The other options, such as the Maastricht Treaty, focused on regional integration in Europe, while the North American Free Trade Agreement and Asia-Pacific Economic Cooperation were important trade agreements but did not represent the same level of change as the establishment of the WTO. The Asian Free Trade Arrangement was established in 2002 and thus did not occur during the 1990s.

The Trade Agreement That Represented the Most Significant Change to the Regulations