The document discusses the World Trade Organization (WTO) and the differences between it and its predecessor, the General Agreement on Tariffs and Trade (GATT). The WTO was established in 1995 and has 164 member countries. It aims to raise living standards through sustainable development and trade liberalization. Key differences between the WTO and GATT include that the WTO has a stronger, more rules-based dispute settlement system and its agreements cover both goods and services. However, some criticize that WTO decisions favor developed nations.