(Video) Rajya Sabha TV (RSTV) In Depth: World Trade Organisation (WTO) - Impact & Relevance

Topic: World Trade Organisation (WTO) - Impact & Relevance

Topic Description:

January 1st 2020 marks the silver jubilee of the World Trade Organisation

The world trade body was established on 1st of January, 1995.

Its was the biggest reform in international trade since the end of the Second World War.

Ever since its inception... the world body has presided over international trade ensuring that it proceeds with a semblance of order

But in its 25th year, confidence in the global body has sunk to an unprecedented low.... For just a few weeks ago, the WTO lost its power to resolve trade disputes .

This was after the U.S. blocked the functioning of the Appellate Body - the WTO's highest adjudicating body .

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Courtesy: RSTV