As civil as human society has seemingly become in today's day in age, even the most developed countries of the world still behave and interact towards each other in such an unconstructive manner that undermines the economic interests of people around the world. Mercantilism, which has long before industrialization characterized the behavior of Western nations, is the prevailing behavior of modern state interaction. Political interests, which can range from anywhere between territorial disputes to national humility, often determine whether or not policies which economically benefit the people become enacted. Thus to keep politicians and policymakers around the world accountable, a worldwide body or bodies is needed to force all the nations of the world to abide by certain rules on a global level in order to assure that the economic interests of the people, in developed and undeveloped nations alike, are presented in the international policies of the nations of the world. Thus, through a series of trade talks and rounds, the World Trade Organization was enacted specifically to fit this need; to try to make the global economic system fair, to enact objective rules, and to globally enforce these rules. The WTO must now be evaluated as to determine how well it is achieving these goals. This paper will begin by briefly going over how it is that the WTO liberalizes trade, the case for the WTO in its comparison to its alternatives, and lastly recommendations for the WTO to better achieve its goals. The main strengths of the WTO are that it demands the accountability of its members by adhering to WTO rules and acts as an arbitrator in settling disputes by giving all members an equal playing field. The WTO is a member organization with a set of rules that all member states must abide by. Multilateral trade negotiations which began with the creation of the GATT in 1947 have over the last 55 years have been enacting trade laws and regulations with the purpose of liberalizing trade.
THE ORIGIN OF THE WTO. ... BENEFITS OF THE WTO'S TRADING SYSTEM. ... The WTO's agreements apply to everyone. ... The basic principles of the WTO system. ... Arguments against the WTO - the WTO and corporate globalisation. ...
Zeroing, they claim, is injurious to free trade and non compliant with current WTO trade regulations. ... The WTO has ruled in the past that zeroing is inconsistent with its trade rules, but the United States still has not stopped the practice. ... So while the USDOC may protect certain American shrimp producers, it does not necessarily benefit domestic business when evaluated in the context of the bigger picture. Finally, since the WTO has already ruled that the United States' practice of zeroing in totaling the dumping margin is out of line with WTO rules, it places the nation in a pr...
The fast gathering of CAB can influence the elements of the round of World Trade Organization (WTO) in the Doha arrangements, and it is misty whether the expansion of two-sided understandings is the response to the moderate advancement of the Doha transactions. ... Policy decisions RTS decisive impact on the development that must be properly processed and evaluated. ...
The following paper will present these criticisms and evaluate the effect of these issues on the continuous attempt to utilize a global free trade policy. ... Actually, the problem is not the WTO itself; it is all that the WTO is affected by. ... They believe that the WTO is simply looking out for richer countries. ... Other arguments against the WTO and its free trade policies are plentiful. ... Criticisms of free trade do not only include problems with the WTO. ...
WTO replaced GATT in 1994 as a result. ... It met once a month and evaluated current matters. ... (DFAIT, "History of-, p.2) WTO shares almost the same aims with GATT. ... This error was replaced with WTO. ... "GATT was talk and talk, but WTO taking decisions immediately." ...
Globalization imposes a major challenge, particularly when seen under the light of China's WTO membersip. ... CHINA"S ACCESION TO THE WTO China's Rationale behind the WTO agreement Three main reasons have been contemplated to justify China's WTO membership. ... As a WTO member, Taiwan can no longer refuse trade with China. ... Under this light, the WTO membership is, ultimately, an ambition to turn China into a global economic power. The Broad Implications of China's accession to the WTO China's accession to the World Trade Organization ...
A WTO 1995 press release provides reinforcing data. ... Trade Patterns Evaluating the dimensions of degree of liberalization, and the trade commodity composition could make an analysis of trade patterns. ... This latest phase has been characterized by the formation of the World Trade Organization (WTO) and the drive for greater liberalization is driven by the impacts of technological innovation and financial market liberalization. ...
This affect was expected in the food and light industry manufacturers of the first two years of joining the WTO. ... Now in reference to instruments of trade policies, Russia has been working hard with the WTO to decrease tariffs, quotas and subsides just to name a few. ... Russia's relationship with the WTO is a good one. ... The WTO believes that Russia will bring substantial benefits to the organization and its members. ... Even with reforms and transitional periods ahead, Russia and the WTO are working together effectively. ...
On Nov. 11, 2001, China, together with the rest of the world, celebrated its ultimate attainment of WTO membership. ... I have been able to accumulate important practical experience over the past two years by undertaking estate project evaluation and analysis of securities investment for my parents' company, applying the theoretical knowledge I had acquired from my studies. ...
