WTO World Trade Organization [WTO rules, referred to as the "WTO"] was established on January 1, 1995. Its predecessor, the GATT [General Agreement on Tariffs and Trade was established in 1948, referred to as "GATT"]. However, the GATT had not been a formal international organization, it only has a small secretariat, responsible for the organization and coordination among member countries on the issue of tariff cuts and tariff trade negotiations. Compared with the GATT, the WTO has not only expanded the scope of [the trade adjusting and regulating trade in goods, trade in services and intellectual property, and the GATT only trade in goods]. It establishes a framework for the dispute settlement mechanism. WTO's basic objectives in five areas : raising standards of living, ensure full employment. substantially improved steadily real income and effective demand and expanding domestic production and improve the quality of services for trade in goods and services. to ensure that developing countries, In particular, the least developed countries can meet the needs of the growth in international trade commensurate with the economic development. China became in November 2001 a member of the World Trade Organization.
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