World Trade Organization and Global Trade

The video discusses Japan's release of radioactive water from Fukushima into the Pacific Ocean, leading to China's ban on Japanese seafood. It explores the role of the World Trade Organization (WTO) in resolving trade disputes, highlighting its history, functions, and criticisms. The US has been blocking WTO judge appointments, affecting dispute resolutions. Despite protectionism, US-China trade remains crucial. World leaders aim to reform the WTO by 2024 to address these challenges.

What was the main issue Japan faced with the Fukushima nuclear plant?

• A shortage of nuclear fuel

• A lack of space to store treated wastewater

• An earthquake damaging the plant

• A fire breaking out in the plant

Who approved Japan's decision to discharge radioactive water into the Pacific Ocean?

• The World Trade Organization

• The World Health Organization

• The International Atomic Energy Agency

• The United Nations nuclear watchdog

What was China's immediate response to Japan's decision to release radioactive water?

• Cutting diplomatic ties with Japan

• Imposing tariffs on Japanese goods

• Banning imports of all Japanese seafood

• Issuing a formal protest to the United Nations

What is the primary role of the World Trade Organization (WTO)?

• To manage international health regulations

• To monitor nuclear safety

• To act as a referee of global trade

• To provide loans to developing countries

When was the World Trade Organization (WTO) formed?

• 1985

• 2000

• 1948

• 1995

What is one major criticism of the WTO?

• It does not have enough member countries

• It focuses only on environmental issues

• It has too much power over national governments

• It has been too slow to adapt to the modern economy

Why has the United States been blocking appointments of new judges to the WTO appeals body?

• Because they disagree with the WTO's environmental policies

• Because they believe the WTO's strict rules hurt U.S. jobs and industry

• Because they want to leave the WTO

• Because they want to form a new trade organization

What has been the impact of the U.S. blocking new judge appointments to the WTO appeals body?

• The WTO has increased its membership

• The WTO has reduced tariffs globally

• The WTO has focused more on environmental issues

• The WTO cannot issue judgments or resolve disputes

What was the record value of global trade in 2022?

• 25 trillion

• 15 trillion

• 20 trillion

• 32 trillion

What have world leaders committed to reforming by 2024?

• The WTO's broken dispute settlement system

• The United Nations nuclear watchdog

• The International Atomic Energy Agency

• The World Health Organization