Which of the following most likely represents the greatest accomplishment of the 1994 revision of the GATT?
A)Creation of the World Trade Organization
B)Creation of regional trade agreements
C)Creation of the World Bank
D)Creation of the International Monetary Fund

Question

Quizplus · Accepted Answer

The creation of the World Trade Organization (WTO) was the most significant accomplishment of the 1994 revision of the General Agreement on Tariffs and Trade (GATT). The WTO serves as a forum for member nations to negotiate and enforce trade agreements, and it has greatly promoted global trade liberalization. While regional trade agreements, the World Bank, and the International Monetary Fund are important institutions in global trade and finance, they were not directly created by the 1994 GATT revision.

Which of the Following Most Likely Represents the Greatest Accomplishment