As compared with the world bank and the IMF the WTO is still a relatively small organization it was created because earlier efforts to expand and regulate global trade were done largely on an ad hoc basis usually at brief meetings of developed countries economic ministers and trade negotiations; and if was thought that having a permanent organization with a central office and director would help institutionalize the trade regime It was also seen as a way to bring third world nations into the process but while the WTO has a certain life of
Its own and some degree of independence if remains like the international lending agencies largely a creation of the wealthier bigger more powerful nations In other words the United States which provides most of the funds chooses the organization's president (an American) and has the biggest say