What is the role of WTO with respect to globalization?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Ensure fair trade rules among nations.
The World Trade Organization (WTO) acts as the primary mediator for global commerce. Its role in globalization is to reduce trade barriers, such as tariffs and quotas, and to provide a legal framework for negotiating trade agreements. By settling disputes and ensuring that member nations adhere to agreed-upon rules, the WTO promotes stability and predictability in the global market, allowing goods and services to flow more freely across international borders.