The World Trade Organisation (WTO) and G7/G8 and G20 (Edexcel A-Level Politics): Flashcards
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When was the WTO established?
When was the WTO established?
1995
What organisation did the WTO succeed?
What organisation did the WTO succeed?
GATT (General Agreement on Tariffs and Trade)
When was GATT established?
When was GATT established?
1947
How many WTO member states are there?
How many WTO member states are there?
164
What % of world trade do WTO members represent?
What % of world trade do WTO members represent?
97%
WTO trade dispute compliance rate
WTO trade dispute compliance rate
Nearly 90%
Current average global tariff rate
Current average global tariff rate
Under 3%
WTO's top decision-making body
WTO's top decision-making body
Ministerial Conference
When did Doha Round begin & its status?
When did Doha Round begin & its status?
2001; remains unresolved
Annual agricultural subsidies (OECD estimate)
Annual agricultural subsidies (OECD estimate)
Nearly $300 billion
When was the G7 founded?
When was the G7 founded?
1975
Name the G7 member countries
Name the G7 member countries
US, Canada, France, Germany, Italy, Japan, UK
When/why was Russia suspended from G7?
When/why was Russia suspended from G7?
2014; annexation of Crimea
What % of global GDP does G7 account for?
What % of global GDP does G7 account for?
45%
Key informal features of G7
Key informal features of G7
No headquarters, formal rules, or legal status