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CBSE Class 10 Answered

What are the limitations of WTO?  
Asked by sarah.std10 | 10 Feb, 2022, 06:59: PM
answered-by-expert Expert Answer
The WTO has often been criticised for trade rules which are still unfavourable towards developing countries. Many developed countries went through a period of tariff protection.
Free trade may prevent developing economies develop new industries. WTO has rules which favour multinationals. For example, 'most favoured nation' principle means countries should trade without discrimination. This means that developing countires cannot give preference to local contractors.
Answered by Social Science Expert | 10 Feb, 2022, 07:31: PM

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