Advantages And Disadvantages Of World Trade Organization

1884 Words8 Pages

Assignment no: 1
Subject: BUSINESS ECONOMICS
Topic: WORLD TRADE ORGANISATION

BY, NIBEDITA PAUL ROLL NO: 324243

INTRODUCTION:
The thought is the father to the deed, The World Trade Organization would have never been existed if it would never been thought for. And as it is said in the language of communication that NOISE is behind all INVENTIONS. So the same truth also applies for the great organization.
The World Trade Organization is an amalgamation of many such thoughts and ideas which is connected to the three distinct areas of Theory and Practice.
*LAW
*ECONOMICS …show more content…

DISADVANTAGES
*Loss of sovereignty that is the country loses the control over its country and economy
*Because it becomes interdepended on the trade with the foreign countries
“DEATH OF WTO IN FUTURE”
The risk of the downfall or the future life of WTO is always a question in front of all individuals. Basically from the perspective of lawyers, economist and politicians. There should be few changes brought according to the changing requirements and demand for trade.
The system has proven to be adaptive and strong, however, drawing strength from the varied perspectives and ideas of its members, and there is every reason to expect that it will still be here in 2048 and further than.

Therefore, with respect to Economic, Political and Social situation the organization should bring about changes to continue in the future.

Punch line: If you believe doctors, nothing is wholesome: if you believe the theologians, nothing is innocent: if you believe the soldiers, nothing is safe. They all require their strong wine diluted by a very large admixture of insipid common

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