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What is the success effectiveness of World Trade Organisation in the promotion of development?
Success effectiveness of World Trade Organisation in the promotion of development:
• An unreasonable rules-based trading system is preferable to a free-for-all wherein small countries are strained to negotiate individually along with global giants to gain entrance to their markets.
• Trade facilitates specialisation by comparative advantage, raised output and resultant trade raises economic welfare - specified right Terms of Trade
• Developed countries have maintained protectionist policies by using anti dumping WTO rule to eliminate/tax LDC exports.
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