Development of European Union and Pacific Rim Country in the framework of WTO
                  
I. Introduction
Since its inception in 1995, the World Trade Organization (WTO) has regularly been in the news. There have been optimistic stories of expanding WTO membership that emphasize that freer trade generates numerous benefits for consumers. Newspapers report on the details of WTO entry negotiations for important countries like China and remind us of the gains from trade. At other times, media reports might lead us to believe that disputes among WTO members are about to tear the organization apart. Disagreements between the U.S. and the European Union (EU) over everything from U.S. corporate taxation, to genetically modified organisms, to special steel tariffs make headlines worldwide. Finally, some groups seem unconvinced by and resentful of claims that free trade makes the entire world better off. Huge numbers of people from environmental and labor groups gather at various international meetings of heads of state and government ministers to protest globalization in general and the WTO in particular. Some representatives of developing countries are concerned that they have liberalized their trade and agreed to intellectual property protection for developed country products but have received almost no additional access to agricul英语论文网 【http://www.51lunwen.org】tural markets in the industrialized world.
This article provides an overview of the WTO system. In the first section, I present a brief history of the WTO and discuss the fundamental principles that underlie world trading system. In the following section, I explain how these principles work to enforce the trade between European Union and Pacific Rim Country. Then, I present a short summary of economic development and legal shortage in the background of WTO.