Choose that the given statement is true/false:

Developed countries have retained their trade barriers.

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True

False

answer is A.

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Detailed Solution

The above statement is true.
The World Trade Organisation was started to liberalise foreign trade. It simply means that it facilitates the removal of trade barriers and smoothes out any international trading conflicts. The World Trade Organisation establishes rules regarding international trade for all countries. It ensures that all the laws related to international trade are followed. The World Trade organisation and developed countries worked towards removing trade barriers from the developing economies to expand trade routes and markets. However, in practice, trade between countries is not entirely free. Although the world trade organisation is supposed to allow free trade for all, the developed nations have unfairly retained their trade barriers.

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