Question

Imagine that your friend is the CEO of a company, called Magna Clothes, that manufactures cool new clothing accessories for both men and women. Now that it has achieved a large following and a level of success in the United States, Magna Clothes wants to start conducting business abroad. Your friend knows you have taken a management class and has asked you to explain the history and significance of the World Trade Organization (WTO). Which of the following statements are true? Check all that apply.

a) The WTO allows countries to have observer status before becoming full members, so they can follow discussions on topics that are of direct interest to them.

b) The WTO limits access to its discussions and information to only its member nations.

c) The WTO came into existence in January 1995.

d) Opponents of the WTO sometimes contend that the organization focuses too
narrowly to the globalization of trade, at the expense of human rights and the environment.

Answer 1

a) The WTO allows countries to have observer status before becoming full members, so they can follow discussions on topics that are of direct interest to them.

⇒ TRUE, that way potentially new members get to understand how the WTO works.

c) The WTO came into existence in January 1995.

⇒ TRUE, the WTO birthday is January 1, 1995.

d) Opponents of the WTO sometimes contend that the organization focuses too narrowly to the globalization of trade, at the expense of human rights and the environment.

⇒ TRUE, the WTO's focus is on trade, and it tends to ignore many social and environmental factors.