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The World Trade Organization regulates international trade from "summary" of International Economics by Robert Carbaugh
The World Trade Organization (WTO) plays a pivotal role in the regulation of international trade. It serves as a forum where member countries can negotiate trade agreements and resolve disputes regarding trade policies. The primary objective of the WTO is to promote free and fair trade among nations by setting rules and guidelines that govern international trade. One of the key functions of the WTO is to ensure that trade barriers such as tariffs, quotas, and subsidies are reduced or eliminated. By doing so, the organization aims to create a level playing field for all member countries, allowing them to compete on an equal footing in the global marketplace. Additionally, the WTO works to prevent discrimination against foreign goods and services, thereby promoting transparency and non-discrimination in trade practices....
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