Why was the world trade organization established? (a) to formulate a coordinated policy response to financial crises(b) to promote economic development to police the international trading system(c) to preserve peace through international cooperation (d) to maintain order in the international monetary system

The correct answer is B. The World Trade Organization was established to promote economic development to police the international trading system.

Explanation:

World Trade Organization (WTO) is the only international organization that deals with the rules governing trade between countries. The pillars on which it rests are the WTO Agreements, which have been negotiated and signed by the vast majority of countries that participate in world trade and ratified by their respective parliaments. The objective is to help producers of goods and services, exporters and importers to carry out their activities. The World Trade Organization (WTO) was established in 1995. It is based in Geneva, Switzerland, and its official languages are English, French and Spanish. The WTO is not part of the United Nations system, nor of Bretton Woods agencies such as the World Bank or the IMF.

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