World Trade Organization - WTO

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DEFINITION of 'World Trade Organization - WTO'

An international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably, and freely as possible.

BREAKING DOWN 'World Trade Organization - WTO'

Some, especially multinational corporations, believe that the WTO is great for business. Others believe the WTO will undermine the principles of democracy and simply make the rich much richer.

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