GATT Uruguay Round of trade negotiations led to the creation of the World Trade Organization (WTO) in 1994 Included a new binding system of Dispute Resolution: Process by which trade disagreements between states can be resolved by an impartial tribunal System requires that states change offending policies Included many new requirements for state behavior MNC intellectual property rights MNC investment protection Single Undertaking – acts like a constitution WTO is very controversial: promotes liberalization but reduces sovereignty
{}