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The world trade Organisation and the European Union The world trade organisation is the leading agency involved in the regulation of international trading. It develops ground rules for international commerce. Established in 1995, the world trade organisation is the successor body to the general agreement on tariffs and trade also known as GATT. As of July 2007, there are currently 151 members of the world trade organisation. Basically, the World Trade Organization deals with the rules of trade between nations at a global or near-global level. The world trade organisations agreement covers goods, services and intellectual property. It is the only international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. The agreement falls into 6 categories: ° An umbrella agreement (The agreement establishing the WTO) ° Agreements for gods ° Agreements for Services ° Agreements for intellectual property °Dispute settlement °Reviews of governments trade policies

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Q: What do you mean by World Trade Organisation and globalisation?
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globalisation is something spreading around the world


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These are alternative spellings. The first is generally thought of as the American spelling of the word and the second is often thought to be the strictly UK spelling of the word, though the Oxford English Dictionary offers both alternatives. I have chosen to use the "s" spelling throughout because the coursebooks I was referring to were using it. It doesn't really matter which one you use when you are writing as long as you are consistent and use the same spelling throughout.What exactly does "globalisation" mean?In its broadest terms the word simply means that "it relates to the whole world". Simple!So what does it mean in real terms?Globalisation, according to the pundits, means the facilitation of integration between different nations and peoples, reduced transportation costs (e.g. cheaper flights), easier and cheaper communication over great distances, more efficient trade between different countries around the globe (thereby improving the economies of developing countries), improved services and standardised quality of products (so you can buy the same fast food, fizzy drink etc. anywhere in the world), shared knowledge (in a variety of fields including medicine thereby reducing disease and mortality in developing countries) and general progress to the benefit of all. Sounds great, doesn't it!Who makes globalisation happen?There are many international bodies who are behind the globalisation movement. To name but a few in the field of global economics there are:- The IMF (the International Monetary Fund)- The World Bank- The WTO (the World Trade Organisation) These are alternative spellings. The first is generally thought of as the American spelling of the word and the second is often thought to be the strictly UK spelling of the word, though the Oxford English Dictionary offers both alternatives. I have chosen to use the "s" spelling throughout because the coursebooks I was referring to were using it. It doesn't really matter which one you use when you are writing as long as you are consistent and use the same spelling throughout.What exactly does "globalisation" mean?In its broadest terms the word simply means that "it relates to the whole world". Simple!So what does it mean in real terms?Globalisation, according to the pundits, means the facilitation of integration between different nations and peoples, reduced transportation costs (e.g. cheaper flights), easier and cheaper communication over great distances, more efficient trade between different countries around the globe (thereby improving the economies of developing countries), improved services and standardised quality of products (so you can buy the same fast food, fizzy drink etc. anywhere in the world), shared knowledge (in a variety of fields including medicine thereby reducing disease and mortality in developing countries) and general progress to the benefit of all. Sounds great, doesn't it!Who makes globalisation happen?There are many international bodies who are behind the globalisation movement. To name but a few in the field of global economics there are:- The IMF (the International Monetary Fund)- The World Bank- The WTO (the World Trade Organisation)


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