World Trade Organization
Global trading has been a part of the world since the 1940s. As trade between countries began to grow so did the need for some sort of international commerce. In 1948, the International Trade Organization (ITO) was established, but fell through and triggered the creation of General Agreement on Tariffs and Trade (GATT). GATT was created through several negotiations, known as rounds. For many years, GATT's policies held strong and offered many countries the international support they needed to remain prosperous in global trade. Though, as time went on, certain trade policies established by GATT were being undermined by countries in order for them to continue conducting business. GATT's rules and regulations were becoming obsolete in the rapid changing global economy. "By the early 1980s the General Agreement was clearly no longer relevant to the realities of world trade as it had been in the 1940s. For a start, world trade had become far more complex and important than 40 years before: the globalization of the world economy was underway, trade in services - not covered by GATT rules - was of major interest to more and more countries, and international investment had expanded" (World Wide Web. http://www.wto.org/wto /abo
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Some common words found in the essay are:
Africa Europe, Trade Organization, GATT GATT, Body DSB, Uruguay Round, Street Journal, ILO WTO, Labor Conference, , Declaration ILO, developing countries, world trade, trade organization, global trading, international trade, world trade organization, uruguay round, 21st century, international trade organization, worker's rights, rules regarding, foreign direct, foreign direct investment, world wide web, under-developed developing countries,
Approximate Word count = 1287
Approximate Pages = 5 (250 words per page double spaced)
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