WTO agreements cover goods, services and intellectual property. The three agreements establishing the WTO are GATT, GATS and TRIPS. A country may have to sacrifice its own interests to avoid any violation of WTO agreements. Thus, a country is limited in its choices. In addition, brutal regimes that harm their own countries may inadvertently receive hidden support from foreign governments that continue to do business with these regimes in the name of free trade. Governments unfavourable to big capital therefore remain in power to the detriment of representative government. At the end of and after World War II, the United States, the United Kingdom, and other war allies proposed an international trade framework that would make substantial improvements to international trade to support the reconstruction of post-war economies.2 The World Trade Organization (WTO) is an international organization that provides the legal and institutional framework for the implementation and monitoring of free trade agreements around the world, as well as for the settlement of disputes arising from their interpretation and application1. 1 Until 24 August 2012, the WTO had 157 member countries and 27 additional observer countries. The headquarters in Geneva, Switzerland, provides a forum where governments negotiate trade agreements. Compare Lowe`s and Home Depot accounts for 2010 and 2011, including: – revenue; – cost of goods sold, – receivables on supplies and services, and – Credit Accounting – Stock Displays trends for the five categories for each enterprise.
Taking into account the case analysis, you discuss and interpret the changes made during the three years Under the WTO agreements, Member States undertake not to arbitrarily increase tariff and non-tariff barriers. This provides stability and predictability for the trading system. The WTO has been particularly concerned about developing countries, as it has given them more time to adapt to agreements reached under its agreements and to certain special privileges. An important feature of the WTO is that it would not only deal with disputes in the area of trade in goods, but also with a whole range of issues such as services and intellectual property rights. . . .