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WTO Impending Collapse
May 22 , 2019
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- Over 20 developing countries met in New Delhi recently to discuss ways to prevent collapse of World Trade Organization’s (WTO’s) “Dispute resolution system”.
- WTO’s Appellate Body is a standing committee of 7 members.
- It presides over appeals against judgments passed in trade-related disputes brought by WTO members.
- The WTO’s dispute settlement procedure is seen as being vital to ensuring smooth flows of international trade.
- Over the last two years, the membership of the body has been reduced to just 3 members instead of the required seven.
- This is because the United States believes that WTO is biased against it and has been blocking appointments.
- India has so far been a direct participant in 54 disputes and has been involved in 158 as a third party.
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