1. What is meant by Froude’s number?





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For the United States, which did not want a new Organisation, the dispute settlement part of the WTO package achieved its longstanding goal of a more effective and more legal dispute settlement system. For the Europeans, who by the 1990s had come to view GATT dispute settlement less in political terms and more as a regime of legal obligations, the WTO package was acceptable as a means to discipline the resort to unilateral measures by the United States. Countries like Canada and other middle and smaller trading partners were attracted by the expansion of a rules-based system and by the symbolic value of a trade Organisation, both of which inherently support the weak against the strong. The developing countries were attracted due to the provisions banning unilateral measures. Finally, and perhaps most important, many countries at the Uruguay Round came to put a higher priority on the export gains than on the import losses that the negotiation would produce, and they came to associate the WTO and a rules-based system with those gains. This reasoning - replicated in many countries - was contained in U.S. Ambassador Kantor's defence of the WTO, and it amounted to a recognition that international trade and its benefits cannot be enjoyed unless trading nations accept the discipline of a negotiated rules-based environment.A second factor in the creation of the WTO was pressure from lawyers and the legal process. The dispute settlement system of the WTO was seen as a victory of legalists over pragmatists but the matter went deeper than that. The GATT, and the WTO, are contract organisations based on rules, and it is inevitable that an Organisation created to further rules will in turn be influenced by the legal process. 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MCQ->What is meant by Froude’s number?....
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