Choose given statement True/False:

The World Trade Organisation(WTO) has set rules for international trade

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True

False

answer is A.

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Detailed Solution

The above statement is true.
The World Trade Organisation(WTO) has set rules for international trade, but most developed countries do not follow these rules. These countries use trade barriers to control their imports because developed countries want to control international trade and grab a major share of the world market. They want to invest their money and earn profits. Therefore, developed countries want developing countries to liberalize their trade and investment. These countries want to interfere in the internal matters of various developing countries by forcing them to liberalize their economies.

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