GATT (1947)
-not an administrative body
-focus on manufactured goods
-main functions are to create a framework for international trade negotiations and to facilitate arbitration of trade dispute
GATT turns into WTO in 1995
WTO
-has developed a bureaucracy of its own
-has more of an enforcement capability, but still limited in power
-extends focus to service and intellectual property rights (in addition to goods)
-increases membership (150+)
-reciprocity plays a large role
-most-favored nation clause
-arguable that WTO is only around to make profits for corporations, not help the poor –> seattle riot in 1999
GATT (1947)
-not an administrative body
-focus on manufactured goods
-main functions are to create a framework for international trade negotiations and to facilitate arbitration of trade dispute
GATT turns into WTO in 1995
WTO
-has developed a bureaucracy of its own
-has more of an enforcement capability, but still limited in power
-extends focus to service and intellectual property rights (in addition to goods)
-increases membership (150+)
-reciprocity plays a large role
-most-favored nation clause
-arguable that WTO is only around to make profits for corporations, not help the poor –> seattle riot in 1999
This would be a 4, 4 sure.