World Trade Organization

Global trading has been a part of the world since the 1940s. As trade between countries began to grow so did the need for some sort of international commerce. In 1948, the International Trade Organization (ITO) was established, but fell through and triggered the creation of General Agreement on Tariffs and Trade (GATT). GATT was created through several negotiations, known as rounds. For many years, GATT's policies held strong and offered many countries the international support …

…aspects of economic markets. Though, the creation of the WTO brought many great new ideas and helped closer unite the world into one huge market, there are still bugs that need to be worked out, and as time goes on, we will see need for more changes and adjustments. A few of the areas that the WTO needs to rectify and further develop now are areas such as worker's rights, environmentalism, and foreign direct investment.