International Trade
Why and by whom the WTO has been criticised and opposed?
The WTO has however been criticised and opposed by those who are worried about the effects of free trade and economic globalisation.
(i) It is argued that free trade does not make ordinary people’s lives more prosperous.
(ii) It is actually widening the gulf between rich and poor by making rich countries more rich.
(iii) This is because the influential nations in the WTO focus on their own commercial interests.
(iv) Moreover, many developed countries have not fully opened their markets to products from developing countries.
(v) It is also argued that issues of health, worker’s rights, child labour and environment are ignored.
Sponsor Area
How are ports helpful for trade? Give a classification of ports on the basis of their location.
How do nations gain from international trade?
What are out ports? Define with examples.
Describe the nature of composition of internation trade.
Define barter system. Mention the difficulties with this system.
What is an international trade?
Name the five greatest trading nations.
Mention the three important aspects of international trade.
What is the balance of trade?
Describe trading blocs with examples.
Sponsor Area
Sponsor Area