The Governance of World Trade

The governance of world trade refers to the systems and organizations that set rules, resolve disputes, and promote fair economic exchanges between countries. Key institutions like the World Trade Organization (WTO) establish agreements to ensure that trade flows smoothly, predictably, and fairly. They develop trade policies, monitor compliance, and provide forums for negotiations. This governance helps prevent trade conflicts, encourages economic growth, and balances national interests with global cooperation. Overall, it creates a structured framework that supports international trade, benefiting countries and consumers worldwide through stability, fairness, and mutual benefit.