Role Of World Trade Organization In Acceleration of Globalization
The world trade organization has been instrumental in accelerating globalization. It deals with trade ensure where it aims to deal with barriers set by countries about trade between them and other countries. It tasked with the mandate of ensuring that trade is carried out freely, predictably and as smoothly as possible between countries. Furthermore, the body usually aims to reduce trade disputes between respective nations. As such the role of the world trade organization is to reduce barriers to trade in different countries and at the same time encourage them to conduct trade freely, foster fair competition among nations and promote liberalization of trade to quicken economic globalization and economic growth (Kaplinsky, 2005).
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World trade organization further engages in different strategies to alleviate poverty in developing nations. In carrying out its role of reducing barriers among countries regarding trade. World trade organization focusses on different protective measures by governments as barriers to trade with other countries, which include intellectual property, services and tariffs where it comes in between the respective countries in conflict to settle the matter and provide an agreement that will help both countries as regards to trade.
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Thus, the world trade organization helps in solving trade disputes between countries, offering trainings to developing nation and giving them some marketing knowledge and further assisting in coming up with economic policies while examining trade policies. As such the world trade organization deals with trade to ensure that international trade is carried out with as little barriers as possible thus accelerating globalization by allowing movement of capital, resources and people as a result.Order Unique Answer Now