GCEEconomicsInternational Trade2019

The World Trade Organization (WTO) was established primarily to

Aprovide financial assistance to developing countries facing balance of payments difficulties
Bregulate and promote orderly, rule-based international trade among member nationsCORRECT
Cfix exchange rates between member countries to stabilise international transactions
Dgrant preferential trade agreements exclusively to African countries
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Why the answer is B, and why the others tempt you.
The WTO, established in 1995 as a successor to GATT, exists to regulate international trade by providing a framework of rules, settling trade disputes among member nations, and promoting free and fair trade globally. Option A describes the role of the International Monetary Fund (IMF), Option C describes the defunct Bretton Woods fixed exchange rate system, and Option D is factually incorrect as the WTO is a multilateral body serving all member nations equally.
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