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Miscellaneous
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Number of pages / Number of words: |
15 / 3974 |
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Successive American Administrations and other governments became increasingly cognizant of the GATT's inherent limitations and following the Uruguay Round incorporated with the WTO in 1995.
At its inception, the WTO comprised of 90 member states, a figure that has since increased to 144 which together generates most of the world's trade...
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The WTO as a fully fledged international organization whose responsibilities and authority are much broader than that of the GATT, later followed in the footsteps of its predecessor by serving an important political purpose of facilitating the reduction of trade barriers. Gilpin reported that the WTO had incorporated many of the GATT's rules and practices, but the legal mandate and institutional structure (more extensive and binding rules) of the WTO were designed to enable it to play a much more important role in governance of international commerce in comparison to the GATT...
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