Introduction International trade is the backbone of modern globalization, and its regulation has been one of the most significant challenges since the 20th century. Countries often face conflicts over tariffs, subsidies, and trade restrictions, which, if unresolved, can escalate into trade wars. To prevent such outcomes and promote a rules-based system of trade, global institutions…
Introduction Globalization has been one of the most transformative forces of the modern era, redefining economies, societies, and cultures across the globe. At its core, globalization refers to the increasing interconnectedness and interdependence of nations, facilitated by advancements in trade, technology, finance, and communication. For decades, globalization accelerated global economic growth, increased cross-border investments, boosted…
Introduction The World Trade Organization (WTO) is the backbone of the global trading system. Established in 1995 as a successor to the General Agreement on Tariffs and Trade (GATT), the WTO regulates international trade and provides a platform for countries to negotiate agreements, resolve disputes, and promote fair trade practices. In an increasingly globalized world,…