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Showing posts from December, 2020

WTO

Germany has been a WTO member since January 1st, 1995. It has also formally been a member of GATT since October 1st, 1951. Germany’s membership is under the European Union. WTO has allowed Germany free trade with other countries on a  fair, predictable, and evenly negotiated level. The EU has been a big component in pushing for trade from small developing countries and countries outside the organization. Germany ranked number 3 in exports according to The Atlas of Economic Complexity, It is understandable that Germany would want all the benefits of free trade. In 2017, 46.5 percent of German merchandise exports and 51.6 percent of imported goods were intermediate products according to the World Trade Organisation (WTO). Attached to this is trade among similar products which gives German consumers the benefit of a variety (BDI). Germany a large exporter of motor vehicles could trade motor vehicles with the US and vice versa leaving Germans with options between us and German Motor Ve...