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What is Evolution of Trade: GATT to WTO about?

Multilateralism involves multiple countries collaborating to establish common trade rules, crucial for post-World War II economic recovery and stability. The General Agreement on Tariffs and Trade (GATT) was created in 1947 to lower tariffs and prevent trade wars but was replaced by the World Trade Organization (WTO) in 1995 for a more robust framework. The WTO offers a stronger dispute resolution system and broader coverage, including services and intellectual property.

Author

cyrus212003

Language

EN