India's recent opposition to a plurilateral trade agreement at the WTO highlights a crucial debate in global trade governance. This news is essential for understanding the shift from post-war multilateralism to fragmented, interest-based plurilateral deals and its implications for developing economies like India in international forums.
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Quick Exam Facts From News
1-Minute Revision
- ›WTO Member Nations: 166
- ›GATT Signed (Year & Nations): 1947 by 23 nations
- ›Target this Data: WTO has 166 member nations; GATT was signed in 1947 by 23 nations.
- ›Target this Nodal Body: World Trade Organization (WTO) and its Ministerial Conference (MC14).
- ›Target this Legal Point: The five specific principles of the GATT/WTO system: Nondiscrimination, Transparency, Reciprocity, Flexibility, Consensus.
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