industries, like agriculture, and separate trading rules for certain countries, like the low-income countries.

There were rules, exceptions to rules, opportunities to opt out of rules, and precise wording to be fought over in

every case. Like the GATT before it, the WTO is not a world government, with power to impose its decisions on

others. The total staff of the WTO Secretariat in 2021 is 625 people and its annual budget (as of 2020) is $197

23

13

38

26

26

62

102

123

147
490 20 • Globalization and Protectionism

million, which makes it smaller in size than many large universities.

Regional Trading Agreements

There are different types of economic integration across the globe, ranging from free trade agreements, in

which participants allow each other’s imports without tariffs or quotas, to common markets, in which

participants have a common external trade policy as well as free trade within the group, to full economic
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