GOLDILOCKS
The World Trade Organization has been working on reforms for some time. In the past, it has been believed that this organization has favored the larger countries. Attempts have been made to reconcile some of the mechanisms to create a "More Level Playing Field" among the smaller countries.In 2024, a renewed mechanism is at play to settle some disputes among countries feeling the need to call into question certain trades that have been favored towards larger countries over their own.
With the upcoming 13th Ministerial Conference (MC13) in February, a meeting with several representatives from around the world to talk and implement a new mechanism put into place called the "appellate mechanism."
The appellate mechanism is governed by seven people who will make decisions on disputes that are called into question. Last year, I shared with you how foreign exchange rates were being reformed within the WTO. Now, we are witnessing many trade products being brought to the table for adjustments throughout this year.
These adjustments to trading prices and foreign currency exchange rates are coming at a time whereby the new rules and regulations inside the banking system that are coming into play on March the 11th, 2024 are timely. JD Supra WTO
© Goldilocks
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