World Trade Organisation (WTO)

A body set up, under the auspices of the General Agreement on Tariffs and Trade, to replace that regime and rule on trade disputes. China’s admission to the WTO in December 2001 was followed by a rapid expansion of its exports, but not by the political liberalisation that some hoped would occur. The WTO is disliked by some campaigners—and some governments—because its decisions impinge on national sovereignty.