Question

Which of the following do NAFTA, the WTO, and the G8 all promote?

protectionism


green technology


debt forgiveness


free trade

Answer 1

North American Free Trade Agreement (NAFTA), World Trade Center (WTO), G8 (France, Germany, Italy, the United Kingdom, Japan, the United States, Canada, and Russia), All promote FREE TRADE

Answer 2

"Free Trade"

Step-by-step explanation:

• The North American Free Trade Agreement (NAFTA) is a free trade zone between Canada, the United States and Mexico. The Treaty allows reducing costs to promote the exchange of goods between the three countries.

• The World Trade Organization (WTO) is the only international organization that deals with the rules that govern trade between countries. The pillars on which it rests are the WTO Agreements, which have been negotiated and signed by the vast majority of countries participating in world trade and ratified by their respective parliaments. The objective is to help producers of goods and services, exporters and importers to carry out their activities.

• It is called G8, the group of eight, a group of countries with industrialized economies of the planet. The group was made up of Russia (excluded by the Crimean crisis), Canada, the United States, France, Italy, Germany, the United Kingdom and Japan. In addition, the European Union had political representation. The G8 has been looking for solutions and common strategies to deal with the problems detected, always based on their own interests. The G8 does not formally have the capacity to implement the policies it designs. In order to achieve its initiatives, the G8 has the power of its member countries in international institutions such as the Security Council of the United Nations, the World Bank, the IMF or the WTO. In fact, of the five permanent members (with veto rights) of the United Nations Security Council, four are members of the G8, and in the framework of the World Bank and the IMF, the G8 countries accumulate more than 44% of the votes. In negotiations within the framework of the WTO, the G8 countries also tend to function as a bloc made up of the EU, Japan, the United States and Canada. However, the gradual loss of weight of the West in the world economy and the growing influence of emerging powers such as China have led to a constant loss of power and real representativeness of the G8, a trend that is expected to worsen in the coming years.