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MaRussiya [10]
3 years ago
13

Is the WTO system still a rich men's club

Law
1 answer:
mezya [45]3 years ago
5 0

Answer:

Although the developing countries form four-fifths of the WTO's ... The answer lies in the decision-making process and practice of the WTO system, which in ... still unable to cope with the problems arising from their existing WTO obligations. ... be done to change the WTO's image of being a "rich men's club".

Explanation:

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<u>Explanation: </u>

To make payments in the foreign countries the instruments used are Foreign Bills of Exchange, Bank Drafts and Telegraphic Transfers and Letter of Credit. Each of these instruments mentioned as different methodologies in sending the money to the foreign banks.

Let us explain one by one; Foreign Bills of Exchange money drawn from country is payable at another country. Bank draft which is drawn on bank funds and payment assurance is made by the bank that issues it.

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