What is the function of the World Trade Organization (WTO)?

The World Trade Organization (WTO) primarily functions to regulate international trade and resolve disputes between member countries. This organization is crucial for establishing a framework of rules and agreements that govern global trade practices, ensuring that trade flows as smoothly, predictably, and freely as possible.

The WTO facilitates negotiations among nations to reach agreements that help lower trade barriers and promote fair competition. It provides a platform for countries to express their concerns about trade issues, and when disputes arise, the WTO offers a structured process to mediate and resolve these conflicts. This role is essential in maintaining order in international trade and fostering an environment where countries can engage in commerce with confidence.

The other options presented do not accurately capture the primary function of the WTO. For instance, regulating domestic trade policies is typically the responsibility of individual nations rather than an international organization like the WTO. Promoting tourism is outside the scope of the WTO's mission, which focuses strictly on trade matters. Lastly, while providing loans for developing countries is a notable function of some financial institutions, such as the World Bank, it is not a role of the WTO. Thus, the correct choice reflects the organization’s core mission in the global economy.