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Just as it was the US which stopped the founding of the International Trade Organization (ITO) in 1948, when it felt that it would not provide an overwhelming economic dominance in the post-war world, so it was the US that became the leading campaigner for the Uruguay Round and the founding of the WTO, when it felt that more competitive global conditions had created a situation where its corporate interests now demanded an opposite stance.
The WTO performs various functions including administering WTO trade agreement, organizing forums for trade negotiations, handling trade disputes, monitoring national trade policies, providing technical assistance and training for developing countries, and cooperation with other international organizations...
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