Q2 of 10 Page 490

What is the main aim to form WTO?


The main aim for the formation of the WTO was to liberalize international trade i.e. to remove trade barriers. While this has shown positive results for developed countries, it has turned out to be more harmful than beneficial for developing countries.


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1

WTO was started at the initiative of which one group of countries?

 3

What is liberalisation? What are its features?

 4

Name some Indian companies that emerged as MNCs.

 5

How do the local companies start to gain by setting up production jointly with the MNCs? Why do MNCs sometimes buy up local companies?