Where does the World Trade Organisation fit in the overall scheme of international public policy?
WHITHER THE WORLD TRADING SYSTEM? TRADE POLICY REFORM, THE WTO AND PROSPECTS FOR THE NEW ROUND Razeen Sally London School of Economics and Political Science Where does the World Trade Organisation fit in the overall scheme of international public policy? The WTO retains the core business of its predecessor, the General Agreement on Tariffs and Trade, i.e. negotiating and enforcing rules for market access in industrial goods, but it has manifestly gone further than the GATT. It now provides rules for market access in agriculture, textiles and clothing, and services; it has a strong agreement on intellectual property protection; and more detailed coverage of trade procedures (e.g. on subsidies, technical barriers to trade, sanitary and phytosanitary standards, customs valuation and import licensing). In particular, it houses a strong, legalistic and quasi-automatic dispute settlement mechanism, in stark contrast to the GATT's weak dispute settlement procedures which relied less on strict rule-adherence and more on diplomacy. Lastly, the new round of multilateral trade negotiations, launched at the Fourth Ministerial Conference in Qatar in November 2001, proposes to take the WTO into new territory to cover investment, competition and environment-related policies. Clearly, the WTO is a weightier international organisation than the GATT. On the other hand, the WTO is buffeted
Comprehensive Anatomy of China
Comprehensive Anatomy of China July 29, 2004 TABLE OF CONTENTS: . Executive Summary 2. Geography 3. Key Historical Events 4. Culture a. Population Distribution b. Ethnic Groups c. Language d. Religion & Philosophy e. Education 5. Government a. Constitutional Framework b. Legislative Branch c. Executive Branch d. Judicial Branch e. Local Government f. Political System g. Defense 6. Economy a. Labor b. Banking System & Monetary Policy c. Fiscal Policy & Taxation System d. Agriculture e. Manufacturing & Industry f. Services g. Trends and Outlook 7. Trade a. Regulations and Standards b. Tariffs & Value Added Tax c. Imports & Exports d. Foreign Investment EXECUITIVE SUMMARY China is a country rich in culture, people, and natural resources. Throughout its long history, China has seen many transformations in its territory, leadership, religion, and philosophy. Over the last half century, many changes have affected China for the better when considered in aggregate. These changes have strengthened its foreign relations, economy, and outlook for the next century although China remains a poor country by world standards. When reviewing China's recent history there are three periods of significance that should be considered: the rise of communism and the establishment of the People's Republic of China in 1949, the modernization movement led by
International Trade - I have been asked to investigate the possibility of a company (David Lloyd) and see what affects it could have on a new country outside the EU.
International Trade I have been asked to investigate the possibility of a company (David Lloyd) and see what affects it could have on a new country outside the EU. David Lloyd is a well-established company in England with over 27 gyms opened up in the England. Its advantages are that it has a variety of different sports facilities available to the members that attend there. These facilities are used to good affect as you can go there any time of the day between its opening and closing hours. In this coursework I will be looking at whether David Lloyd could be successful in opening up in China and whether people there would take a shine to as people have over here. A variety of celebrities also have memberships with David Lloyd these include Trevor McDonald, Elton John, Ralph Lauren and various footballers. International Trade This is the exchange of goods and services between nations. "Goods" can be defined as finished products, as intermediate goods used in producing other goods, or as raw materials such as minerals, agricultural products, and other commodities. International trade commerce enables a nation to specialize in those goods it can produce most cheaply and efficiently, and sell those that are surplus to its requirements. Trade also enables a country to consume more than it would be able to produce if it depended only on its own resources. Finally,
In this report, we shall explore the reasons for the shift from multilateralism to bilateralism, which is rapidly emerging in the wake of the 1997-98 economic crisis and we shall also focus upon the role of regionalism in East Asia in recent years.
Chapter 1: Introduction Since the 1997-98 financial crisis, a new trade arrangement has begun to emerge in East Asia that represents a clear break from the region's strong history of multilateralism. The countries of East Asia are now giving more attention to ways of expanding intra regional trade that include the establishment of regional trade agreements; plans to establish a free trade area involving the economies of ASEAN and China; as well as moves towards bilateral trade agreements. Such a development is important given that an export-led growth and development strategy has provided the platform for the region's remarkable and prolonged period of high and sustained economic growth since the 1960s. Thus this trend towards bilateralism and the new regionalism, the motivations behind them, their impacts upon the region, their future evolutions and prospects are of profound regional and also global significance. Therefore in this report, we shall explore the reasons for the shift from multilateralism to bilateralism, which is rapidly emerging in the wake of the 1997-98 economic crisis and we shall also focus upon the role of regionalism in East Asia in recent years. In doing so, the report will proceed as follows. Chapter 2 presents a brief background on the Asian Financial Crisis. Chapter 3 looks at the trade arrangements in East Asia before 1997. Chapter 4 discusses
The Blessings and Challenges of Globalization.
. The Blessings and Challenges of Globalization. by Daniel T. Griswold The evidence of globalization can be seen everywhere: in the home, in the workplace, in the discount stores, in the newspapers and business journals, in the flow of monthly government statistics, and in academic literature. The backlash was on display in Seattle in November 1999, when thousands of protesters took to the streets to demonstrate against the ministerial meeting of the World Trade Organization (WTO). A short definition of globalization is "the growing liberalization of international trade and investment, and the resulting increase in the integration of national economies." Economist David Henderson of the Melbourne Business School expands the definition into five related but distinct parts: * the increasing tendency for firms to think, plan, operate, and invest for the future with reference to markets and opportunities across the world as a whole; * the growing ease and cheapness of international communications, with the Internet the leading aspect; * the trend toward closer international economic integration, resulting in the diminished importance of political boundaries. This trend is fueled partly by the first two trends, but even more powerfully by official policies aimed at trade and investment liberalization; * the apparently growing significance of issues and problems
Why has GDP growth been so slow in Somalia?
Why has GDP growth been so slow in Somalia? Introduction to Somalia: Somalia, formerly known as the Somali Democratic Republic, is situated in the Horn of Africa1. It lies along the Gulf of Aden and the Indian Ocean, bounded by Djibouti in the northwest, Ethiopia in the west and Kenya in the southwest. Although generally arid and barren, Somalia has two main rivers; the Shebelle and the Juba. It has had a turbulent history; governance has changed frequently and an independent Somalia has had to deal with assassination, internal conflict and famine. In 1970 Somalia was declared a socialist state, with most of the economy nationalised. The country has battled both itself, in ongoing civil war, and neighbouring Ethiopia, among others. Civil war developed as a result of clan based military factions competing for control after the collapse of regime; War with Ethiopia was deep-rooted, and though it stemmed greatly from the desire of Somalia's leaders to claim back the land they felt was rightfully theirs, it also carried religious undertones. The countries' official religion is Islam, with 99.8% of the population being Sunni Muslims2. Somalia's difficult past has lead to an ever more challenging present. In 2001 it ranked 161 out of 163 countries in the UNDP's Human Development Index3, and it has failed to provide data for the rankings several times since. The absence of a
Peoples' republic of China
PEOPLE'S REPUBLIC OF CHINA: A POLITICAL AND ECONOMIC ASSESSMENT [1996] Introduction This study assesses the political and economic future of the People's Republic of China (PRC) up to the year 1996. The initial discussion following this introduction reviews Chinese history-mostly recent-that is directly relevant to the purpose of this study. The historical review is followed by a consideration of the foreign relations of the PRC that incorporates an assessment of the future global political role of the country. The last of the major discussions presented in this study addresses the economic development of the PRC and the likely impact of the PRC on the global economy in the future. Relevant History As the official policy of the government of the PRC from its inception was to trade with all countries, whether or not diplomatic relations had been established, business entities from most countries, other than the United States, developed trading arrangements with China in the 1950s and 1960s. During the 1950s, Chinese foreign trade was heavily oriented toward the Soviet Union. By 1959, 48 percent of China's foreign trade was with the Soviets. Political disagreements between the two countries, caused Soviet trade to drop to only 7.5 percent of China's total foreign trade by 1966 (Manatoo, 1990, pp. 63-79). With the decline in the significance of the China-Soviet
International trade - In this case I choose the country Canada. When doing a research the best information you must find, is the SLEPT analysis. Using this analysis, you are able to know more about the Social, Legal, Economic, Politics and the Technology
Introduction International trade is becoming more and more important for certain businesses. Those companies need to find out about which country they can sell their goods or services. This is quite important for every business, if they want to do a foreign trade. Further you'll find why different theories are a benefit for international trade. About the non-European country and the business 'Gemos Flowers'. There are various classifications of businesses that are involved in selling their goods abroad. They might do this by exporting to one or more specific customers, by creating sales without operations or by adopting a more structured multi-national approach. Before a business wants trade in another country, he or she first has to do some research to find out whether the country is profitable or not. In this case I choose the country Canada. When doing a research the best information you must find, is the SLEPT analysis. Using this analysis, you are able to know more about the Social, Legal, Economic, Politics and the Technology in Canada. Enjoy reading this report! Name: Denise Chan Class: 2IBS1 Cohort: 2004 - 2008 E1. A detailed explanation of how international trade leads to the benefits and costs identified using relevant theories Theory of David Ricardo David Ricardo was born in 1772 at London, England. He was a British political economist and one
By the mid nineteenth century, Britain had been the world's strongest economic power for nearly a century. It was the first industrialised nation and was hailed as the 'workshop of the world'.
By the mid nineteenth century, Britain had been the world's strongest economic power for nearly a century. It was the first industrialised nation and was hailed as the 'workshop of the world'. In 1850, Britain was supplying more than 60 per cent of the world's coal, half the world's cotton goods, half its iron, and nearly three-quarters of its steel. Britain's staple industries were in fact accounting for 40 percent of the world's manufactured goods. However, in the last quarter of the century, although the industrial output was still increasing as well as the GDP, this once huge economic lead over all the other countries was rapidly being lost. By the onset of the First World War (1914-1918), the USA and Germany had overtaken Britain's manufacturing output in several key industries (see Table 1.1 - 1.3). Table 1.1: Coal Production (million tonnes) 850 860 870 880 890 900 910 Germany 6 2 34 59 89 49 222 USA 3.4 0 64.9 43 244 350 Britain 57 81 12 49 84 228 268 Table 1.2: Pig Iron Production (million tonnes) 850 860 870 880 890 900 910 Germany .3 2.5 4.1 7.5 9.5 USA 0.8 .7 3.9 9.4 4 27 Britain 2.2 3.9 6 7.8 8 9 0 Table 1.3: Steel Production (million tonnes) 850 860 870 880 890 900 910 Germany 0.3 0.7 2.3 6.7 3.8 USA .3 4.3 0 26 Britain 0.7 .3 3.6 5 5.9 Source: AJP Taylor The Struggle For
Will trading fairly reduce world poverty?
Question: Will trading fairly reduce world poverty? "Before you finish eating your breakfast this morning you've depended on half the world. This is the way our universe is structured... We aren't going to have peace on earth until we recognize this basic fact." MARTIN LUTHER KING JR. (source: http://www.pantstopoverty.com/ballot.php) The above quotation from Martin Luther King justifies how half of the world depends on the other. In other words the poor depend on the rich- to give jobs and pay them for their work and the rich depend on the poor - to make raw materials and products. However 'pantstopoverty' thinks that nearly forty years on from the quote to the right, you could justifiably replace "depended on" with "exploited". Is this something we can accept? (Source: http://www.pantstopoverty.com/ballot.php) To answer this question I will carry out various tasks. Amongst them are comparing them to other options which can help reduce poverty e.g. Aid, free trade etc. Producing questionnaires, to collect data on Fairtrade and find the causes to world poverty and finding ways on how to tackle them etc. This is why I think this question is very important as I think trading fair will make a big impact to farmers/growers lives. I think this because I have seen from personal experience that trading fairly would help producers a lot. As my family background is
