How did World War II influence the development of international trade organizations like GATT and WTO?
Answer (1)
After WWII, countries realized that economic problems often lead to war. At Bretton Woods, nations created the IMF and World Bank to stabilize finances, but trade was still restricted. In 1947, GATT was formed to reduce trade barriers and promote peace through cooperation. Later, WTO replaced GATT in 1995. These organizations helped countries like Ireland, which became wealthier after joining open trade systems. Trade promotes peace by making nations depend on each other economically.
