Differentiation of Developed, Least Developed and Developing Countries Dissertation

Differentiation of Developed, Least Developed and Developing Countries under WTO Trade Regime - Dissertation ExampleBy the destination of the Second World War, the global community realized that international trade practices were required function within a multilateral framework. After the Great effect of the late 1920, and the early 1930s, the major barter countries had imposed a set of trade protection measures which had impeded the smooth flow of international trade. This time, the countries did not insufficiency to commit the same mistake. They realized the requirement of a multilateral standard in the arena of international trade. The nations also realized that promoting international trade was matchless of the methods to rectify the destruction caused by the Second World War. Global trade could play a significant role in stimulating economic information in countries across the military man. These requirements urged the global community to establish the WTO which was sole ly dedicated to formulate laws, supervise practices and settle disputes in matters relating to international trade. Presently, 150 countries from around the world are members of the WTO. The reason behind the popularity of the organization among countries could be that the WTO is the only multilateral institution which directs its efforts towards creating a completely interdependent global economy. The basic objective of the WTO is to give the increased liberalization of international trading practices, because the organization believes that countries can promote their own economic development by engaging in the worldwide trading of