Wto Vs World Trade Organization

The only thing worse than World Trade Organization is no World Trade Organization. I view this statement as true in relation to the benefits brought to the agriculture sector due to trade liberalization of the World Trade Organization (WTO). One of the major oversights of the WTO concerns the implementation and creation of trade deals regarding agriculture products. Agriculture may not represent a great percentage of the economy today, but it still directly impact many and viewed as an important factor of a nations GDP. The concept of WTO is like other International governmental organization that relies solely on the cooperation of the state, as states give up part of their sovereignty to the IGO. IGO actions depend on the nation state, thus, …show more content…
Realist are able to rationally embrace WTO as WTO is able to revolutionize the economy with its policy and goals, whilst, looking at the effect of the WTO has on agriculture and social development through trade liberalization, with both positive and negative spillover effects, positive social development as well
The World Trade Organization was created in 1995, replacing the General Agreement of Tariff and Trade (GATT). The mandate of the WTO is to “administer and implement… act as a forum… administer arrangements for the settlement of disputes, review national trade policies and cooperate… to achieving greater coherence in global economy policy making” (Blackhurst 46). The mandate of the WTO encompasses all aspect of trade to ensure trade wars are idle. The effect of globalization is reflected in the transition of the constitution from GATT to the WTO. As WTO included more objectives, more security is provided security for transactions that transcends borders. Membership in the WTO is obtained through the acceptance of all its agreement as a package. Through enforcement of acceptance of the full package it

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