Gatt Trade : The World 's Overall Trading Trade

Unlike previous years of solely trading goods, the WTO allowed for trade to consist of property and services among different countries. Countries could now be globalized in all goods their country didn’t have through the use of free trade. The process of trading was revolutionized by new developments in technology as more and more countries began to trade.

WTO: World Trade Organization deals with the global trading rules between international governments. The overall rules must be predictable enough so that everyone involved isn’t dealing with chaotic sudden changes.

The World Trade Organization, or WTO, was established to grow the global economy and assure its success and safety. The WTO derived from the General Agreement of Tariffs and Trades, or the GATT. The GATT was established in 1948 in order to restore the destroyed global economy after the war. The world needed a united organization

WTO is an international agency which is helping the nation members to provide barriers free trade and settle the disputes those are arise between nations while trading. It ensures the smooth and fair business activities between different countries. It was generated from GATT.

The World Trade Organization (WTO) is a global organization that helps countries and producers of goods deal fairly and smoothly with conducting their business across international borders. It mainly does this through WTO agreements, which are negotiated and signed by a large majority of the trading nations in the world. The purpose of the WTO is to ensure that global trade commences freely, smoothly and predictably while also aiming to create economic peace and stability in the world through a multilateral system. This is based and applied to member states, currently 162 countries, that have consented and ratified the rules of the WTO in their individual countries. Simply put, these documents act as contracts that provide the legal framework for conducting business among nations, integrating into a country 's domestic legal system, therefore, applying to local companies and nationals in the conduct of business internationally. For instance, if a company were to open an office or business in a foreign country, the rules of the WTO dictates how that can be done.1

One of the biggest firms associated with globalization is the World Trade Organization. The World Trade Organization is the only international body that deals with the rules of trading between nations. It has evolved over the past half century into an entity that contract with the trade of services, intellectual property as well as its original intent of the trade of goods. The WTO controls most trade in the world today through over 100 countries, and even more on the way. The World Trade Organization is beneficial economically and we should support its principles.

The General Agreement on Trade and Tariffs (GATT) was signed in 1947 as a global international organization that specifies and enforces rules for the conduct of international trade policies and serves as a forum for negotiations to reduce tariffs and other barriers to international trade.

The official World Trade Organisation web site, defines the WTO as “the only global international organisation dealing with the rules of trade between nations . . . [through] helping producers of goods and services, exporters, and importers (to) conduct their business”1. It was formed in 1995 after growing out of and extending the institution of the General Agreement on Tariffs and Trade. As of the thirtieth of November 2000, the WTO has 140 member-countries, over three-quarters of which are developing or least-developed countries. As the WTO implies, its current role is to serve as the lubrication for the joints in the engine of globalisation; although just how effective and fair this lubrication may be,

     The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. The goal is to help producers of goods and services, exporters, and importers conduct their business. The World Trade Organization came into being in 1995. One of the youngest of the international organizations, the WTO is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War. The World Trade Organization exists to ensure that trade between nations flows as smoothly, predictably and freely as possible. It provides and regulates the legal issues which governs world trade now .

The most important condition for the effective operation of the WTO is the political leadership and the political will to make changes in the rules of world trade[2]. For an organization to function, it must at all times - through successive rounds of negotiations - to move forward.

The history of GATT discussions and the present WTO are the birth right of commitments that the countries have voluntarily agreed with each other. To appreciate the foundation of the present blueprint of import protection across WTO member countries in addition to products and industries within those countries, it is important to turn to the past.

There is a saying, “There are gains from trade. Because of trading, we are now driving the fancy sporty cars such as Lamborghini and Ferrari which are produced by Italy; and Italian are using the hottest smart phone which designed by American”. Trading brings a huge benefit for these two countries which is sharing and gaining their superior production to each other. However, nothing can be accomplished without norms or standards. Although trading has diversified advantages, it could be some risks hidden back. For instance, drugs trading and arms trading can endanger national security. Therefore, we need to make up trading agreement to regularize trading among those countries to ensure any trading activities are legal and safety. The World Trade Organization (WTO) which was called General Agreement on Tariffs and Trade (GATT) is an intergovernmental organization which regulates international trade( ). The WTO manages regulation of exchange between the interest nation by giving a structure to arrange exchange assertions and a debate determination procedure to authorize the members’ adherence to WTO understandings, which are marked by agents of part government and confirmed by their parliament.( )THE WTO current has 160 member states which is one of the biggest trade organization. United States has participated in WTO since 1995 and was a member of GATT since 1948. Therefore, United States has built favorable economic relations within WTO member countries. However; United

The WTO is a multilateral trading system regulating not only goods but also investment, intellectual property and services such as healthcare and education . Such services, Simon Retallack believes, are responsibility of national governments but then are governed by the WTO, which ‘run totally by and for the benefit of multinational corporations’ . Similarly, environmentalists accuse the WTO of undermining ‘necessary environmental legislation’ .

In the past decade, the Asia countries have been on the rise of taking over the trading field from countries such as the United States and Europe. This has been playing a major factor into how countries are feeling about the way Asia countries are operating when it comes to regulations on exports and imports and on how businesses are moving their companies oversees. Many of these Asia countries have decided to recently join the World Trade Organization to be able to trade properly with other countries. I will be examining to see if the WTO has actually benefited countries such as China, Japan, and South Korea. These countries are currently in the top traders and have recently risen to this area.

The World Trade Organization (WTO) is the most powerful legislative and judicial body in the world. It is an international organization that established to supervise and liberalize international trade. In total, there were 159 membership countries of the WTO in 2013. The WTO was created as part of the result of the Uruguay Round negotiations that concluded on 15th of December 1993. It was officially commenced on January 1, 1995 under the Marrakech Agreement, and resulted from a series of General Agreements of Tariffs and Trade, which started after the Second World War in 1947 (Winham, 2014: p. 127). The WTO is the first global, constantly operating organization responsible for the promotion of free trade and the settlement of possible