Ian Explains: What is the World Trade Organization? | GZERO World

The World Trade Organization (WTO) has a huge role in almost every aspect of your daily life-from your morning Brazil-roasted coffee to the Chinese-made smartphone you’re probably using to watch this video.
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You probably don’t spend a ton of time thinking about the World Trade Organization (WTO), but it has a huge role in almost every aspect of your daily life-from your morning Brazil-roasted coffee to the Chinese-made smartphone you’re probably using to watch this video.
The WTO is an international organization that deals with the complicated business of moving goods and services across borders. It’s kind of like the referee for global trade, setting the rules and providing a forum for countries to negotiate agreements and resolve disputes. It’s why you can buy avocados from Mexico, clothes from Vietnam, or cars from Korea in the United States without a second thought.
Global trade ballooned to a staggering $32 trillion in 2022 and the WTO oversees 98% of it.
The WTO has been a force for globalization. It’s opened up new markets, lowered tariffs, and lifted millions out of poverty, but it’s also received criticism for favoring wealthy nations and exacerbating global inequality. Not to mention a broken dispute settlement system that’s made resolving international trade conflict virtually impossible.
On Ian Explains, Ian Bremmer dives into the history of the WTO, why the US is blocking appointments of WTO judges, and what all of this has to do with Japanese octopus.
Watch the full interview on GZERO World: World trade at risk without globalization, warns WTO chief Ngozi Okonjo-Iweala
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Watch the upcoming episode of GZERO World with Ian Bremmer on US public television this weekend (check local listings) and at gzeromedia.com/gzeroworld.
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#GZEROWorld #WTO #GlobalTrade

[@irvingguerrero1628]

Rules base dont work for bullys. Back to strong arm geopolitics..

[@mansidasgupta7104]

Means. One. .Trade. Group. With. All. Over. World ..countries.

[@MrBenzcdi]

geez, another deadlocked institution. thanks for the explainer though, you lovely folks at gzero media 👍

[@reginafefifofina]

2:01 I have an idea Ian! Why doesn’t Asia get into Aquaculture Gardening! With climate change, amoc, Fukushima water, micro plastics, pollution, overfishing and lord knows what else
It’s probably just a plain old good idea and a pleasant hobby that you can feed yourself fresh fish and vegetables.
They have those beautiful painted porcelain fish pots for some reason.

[@angliccivilization1346]

You evaporate it and release it as steam?

[@kbrxr]

If you release it as steam there could be three outcomes. Radioactive rain, radioactive fog, radio active snow all of these are made from the base of water steam, so it's quite counter productive lol

[@Kevin-fq3zh]

well, Japan need not worry. all flights from China to Japan are full for China’s October golden week holidays. Ordinary Chinese love Japan deep deep… lolol

[@irvingguerrero1628]

At this point WTO is not relevant...