DISPUTE RESOLUTION MECHANISMS UNDER GATT AND THE WTO
It is said that knowledge is power...well... I hope that you do feel empowered. BRIEF HISTORY OF GENERAL AGREEMENT ON TRADE AND TARIFFS AND THE WORLD TRADE ORGANIZATION The General Agreement on Trade and Tariffs was established right after the World War II when the world economies realized that there was need for international economic cooperation. It is at this time when multilateral institutions realized that there was need to strengthen their economic power in order to survive the economic hardships that prevailed at the time. The multilateral institutions noteworthy at the time were the Breton Woods Institutions; World Bank and the International monetary fund. It is at this point that I would like to acknowledge the efforts of two renowned world economists Harry Dexter White and John Maynard Keynes. The two are recognized for their efforts to promote a liberal international trade environment and the establishment of the IMF to deal with fiscal and monetary issues, W...