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Wto assignment

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ilov

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  • 1. In the words of Niskanen (2000), the World Trade Organization (WTO) may be the singlemost effective international agency. WTO constitutes of 85 percent of the world’s population andabout 95 percent of world trade has chosen to bind themselves to the WTO’s rules and disputesettlement procedures.The author also describes that WTO has been so successful that numerousgroups have petitioned to use the WTO to enforce a range of nontrade rules affecting labor, theenvironment, and competition policy. But again the author sees the WTO as a bargain in that itsbudget is around $80 million a year, barely more than the rounding error in U.S. federal budgets. The reasons for the relative success of the WTO, according to Niskanen (2000) are that, ithas been focused on modest and broadly shared trade concerns. By modest the author means thatthe WTO, almost alone among international bureaucracies, has self-consciously resisted bothinternal and external pressures to expand its mission. He tries to compare it to theBretton woodinstitutions(International Monetary Fund and World Bank) . 1|Page

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