This paper is an overview of the World Trade Organization (WTO).
Written in 2004; 2,507 words; 5 sources; MLA; $ 76.95
Paper Summary:
This paper explores the history, structure, and function of the WTO. It explains how the World Trade Organization is the most recent result of international efforts to reduce barriers to trade. The writer shows how it is an institution in which membership is voluntary, but it is also an organization with legal status.
From the Paper:
"However, as this statement makes evident, there are exceptions to the rule, and just because a member state does not agree with an amendment or new ruling, this does not necessarily mean that it will be forced to drop out of the WTO. It is membership in the WTO that gives it its legal power. So, to summarize: the rulings of the WTO are not legally binding in that they do not affect the sovereignty of nations to make their own rulings. However, membership is contingent on the acceptance of WTO rulings and policies, and as a member, rulings that override domestic policy can be legally binding."
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