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WTO
(World Trade Organization)
The WTO (World Trade Organization) governs global trade rules between 164 member nations, headquartered in Geneva. Resolves disputes (e.g., U.S.-EU Boeing/Airbus subsidies case) and negotiates agreements (Fisheries Subsidies, 2022).
Criticized for slow consensus-based decision-making (Doha Round stalled since 2001). The U.S.-China trade war (2018-2022) bypassed WTO mechanisms with unilateral tariffs. The IMF and World Bank collaborate on trade finance for developing nations. Key principles include "most favored nation" status (no discrimination between trading partners). Reform debates focus on e-commerce rules and CBDC compatibility.
Criticized for slow consensus-based decision-making (Doha Round stalled since 2001). The U.S.-China trade war (2018-2022) bypassed WTO mechanisms with unilateral tariffs. The IMF and World Bank collaborate on trade finance for developing nations. Key principles include "most favored nation" status (no discrimination between trading partners). Reform debates focus on e-commerce rules and CBDC compatibility.