Answer to Question #243427 in English for lee

Question

1. explain the difference between GATT and WTO and choose 1 topic only.

2. Why do these institutions keep on helping underprivileged countries? What do they get in return of their help? is there any impact in t he they help these countries? world economy when they help these countries?

Answer 1

1.GATT refers to an international multilateral treaty to promote international trade and remove cross-country trade barriers. On the contrary, WTO is a global body, which superseded GATT and deals with the rules of international trade between member nations.

2.The institutions are helping underprivileged countries because they are not able to stand alone to solve their problems. The benefit of helping underprivileged countries is that they get world recognition. There are several impacts these institutions make in the underprivileged countries. The financial assistance they provide to underprivileged countries lead to increase in cash flow in the global economy.