Correct me, please! Thanks!
1. There are 2 different trends in the world trade: liberalization and protectionism. Liberalization leads to reduction of customs duties and the abolition of restrictions and quotas.
Protectionism keeps tariffs high. Also some countries use non-tariff barriers like subsidies, the introduction of standards and norms, licensing and other.
2. World Economic Organization like WTO have a big role in the regulation of international trade. For instance, WTO provides non-discrimination in trade.
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Corrections · 2
1
Correct me, please! Thanks!
1. There are 2 different trends in the world trade: liberalization and protectionism. Liberalization leads to reduction of customs duties, and the abolition of restrictions and quotas.Protectionism keeps tariffs high. Also some countries use non-tariff barriers like subsidies, the introduction of standards and norms, and licensing, amongst others.
2. World economic organizations like the WTO play a big role in the regulation of international trade. For instance, the WTO provides non-discrimination in trade.
Very good. Just be mindful of who the target audience is on words like 'liberalization' and 'organization'. They are perfectly acceptable in the US, but 'liberalisation' and 'organisation' would be more common for a British/Irish/ANZAC audience. FYI: 'iz' is not actually incorrect in England, the Oxford English Dictionary lists that form of the words, but most of the words came from the French spelt 'is'.
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