I hear China was recently inducted. What has been their impact on the world economy?
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To date, there are currently 149 members in the World Trade Organisation (W.T.O.), so you’ll have to forgive me for not listing them all
Basically, the Organisation makes the rules that govern how it’s members can trade with each other, settles trade disputes between its members and attempts to create a fair and level playing field for all its members.
The W.T.O. has spread the ideas and ideals of Capitalism around the world, pushing forward the principles of the free market and helping to make Capitalist ideas the driving force of the world economy. Their direct impact on the economy is hard to measure, unfortunatly, as their organisation is one of massive beauracy, with dozens of treaties and declarations and such like.
Check out the Wikipedia article for a larger discussion of the body:
China has been a member since December 11, 2001.
Go to http://www.wto.org for more info.
WTO supervises internationally according to WTO norms which facilitates just trade among member countries.
WTO headquarters are located in Geneva, Switzerland. Known for neutrality!
It gives international business a level playing field on which to bargin ensuring the fair trade ability of a small company against big business! This keeps world prices down while maintaining a fair wage for the product producers!
149 members currently depending upon your source!