What are the impacts of wto on industrial development?

Answer 1

The World Trade Organization (WTO) impacts industrial development by promoting trade liberalization, which can enhance market access for goods and services, thereby encouraging competition and innovation within industries. It sets rules that can help reduce trade barriers, leading to increased foreign direct investment and technological transfer. However, the benefits can be uneven, as smaller or developing countries may struggle to compete with larger economies, potentially exacerbating disparities in industrial growth. Ultimately, the WTO's influence can drive industrial development positively or negatively, depending on how countries adapt to its regulations and the global market dynamics.