We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Explore the importance of the WTO for international business - Essay Example

Comments (0) Cite this document
Explore the importance of the WTO for international business Introduction Globalization is the extent and connectedness of invention, communication and expertise across the globe. This incorporation occurs as industrial advances speed up the trade of commodities and services, the movement of capital, and the movement of people throughout international boundaries (Dicken, 2007: 66)…
Download full paperFile format: .doc, available for editing
Polish This Essay93.3% of users find it useful
Explore the importance of the WTO for international business
Read TextPreview

Extract of sample
"Explore the importance of the WTO for international business"

Download file to see previous pages The World Trade Organization (WTO) is a modern international association constructed as an enduring body. It is meant to perform the role of a regulator in the scopes of exchange in goods, exchange in services, external investment, and academic property among others. This essay will present the importance of the WTO for international business. WTO and its importance for international business During the late 1990s, a lot of the disputes over globalization concentrated on the World Trade Organization. The WTO was started in 1995 to ease international trade and solve disputes between countries. Geneva was its headquarters, and it had 135 member countries by 1999, majority was developing countries. According to Simmons (2005: 45) the organization helps the developing nations’ interests by easing trade development, providing a system for settling quarrels, reinforcing the integrity of trade changes, and endorsing clear trade systems that lower operation costs. After it was started, the WTO turned out to be a lightning pole for disagreement over globalization (The WTO after Cancun, 2003: 98). The WTO is a compassionate United Nations of Commerce, with enough implementation powers to support countries work out their dissimilarities (Bates, 2007: 76). However to some the WTO is a terrorizing, trade controlled world management of trade in which the statutory body and the law court operate separate the analysis of anyone who is not a regime leader or business lawyer (Morrison, 2009: 67). From this perspective, the organization's influence to arbitrate trade quarrels also provides it the power to dominate national laws, as well as environmental safeties. In that, it entails the independence of its member countries (Correa, 2000: 44). The Doha was the modern trade negotiations between the WTO members (Laeven, 2000: 78). Its purpose was to attain major improvement of the worldwide trading method through the institution of lower tariffs, free services, and trade facilitation. It is also recognized as semi-officially, and the Doha Development Agenda as a central objective is to advance the trading outlooks of developing states (EUROPA-Rapid-Press, 2006). More on Doha is going to be covered later on in the essay. The World Trade Organization was developed because of negations between parties in the General Agreement on Tariffs and Trade (GATT) formed at the end of the Second World War. The GATT was developed in 1947 to govern the post-second world war (Caroline, 2004:77). The International Monetary Fund (IMF), the United Nations, and World Bank were also developed in the years of 1944-1945, as the international leaders believed that the international institutions were capable of assisting the economic and social disasters during that time. The institutions would also prevent the global climate from worsening to the point of conflict (Caroline, 2004:77).The organization of the WTO is governed by its supreme authority, and the Legislative Conference, which constitutes of all the WTO members. They meet at least twice a year and can make decisions on all issues concerning the joint trade treaties (Biadgleng, 2008: 45). The task of WTO in worldwide trade as specified in the Agreement incorporates: Aiding the application, administer allowance and procedure and promoting the objectives of the accord creating it and other Mutual Trade Unions and specifying the framework for the application ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Explore the importance of the WTO for international business Essay”, n.d.)
Retrieved from https://studentshare.org/business/1404012-explore-the-importance-of-the-wto-for
(Explore the Importance of the WTO for International Business Essay)
“Explore the Importance of the WTO for International Business Essay”, n.d. https://studentshare.org/business/1404012-explore-the-importance-of-the-wto-for.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
What are the consequences of WTO accession for Russia
Russia's gradual progress in the negotiations for acquiring the WTO membership, is a positive signal for the international community, as it reflects Russia’s willingness to have an open trade relations within the global commerce.
36 Pages(9000 words)Dissertation
MBA -International Business-
It is now easy and possible for one to transact business dealings with people from totally different geographical location within just click of a mouse. Technology has also made storage, transfer and retail services easier with production activities being decentralized from the central point of, manufacture to other subsidiary departments.
16 Pages(4000 words)Essay
Importance of International Business And Globalisation
According to the paper with the persistent decline the United States economy, international business will result to crucial improvement in the economy. International business increased the rate of exchange with international nations and this reduces the changes of economic failure because of increased exchange of products. International trade provides innovations and concepts, US benefits from these concepts.
9 Pages(2250 words)Essay
Assess the importance of International arbitration in international business
Recent surveys found that organizations across all divisions refer as many business disputes to international arbitration as they do to litigation or court processes (Price water house Coopers and Queen Mary and University of London 2008, p.8). International arbitration in international businesses is always based on the agreement amongst parties that whenever a dispute arises on any matter in the business contract, the parties must submit the dispute to a tribunal appointed to arbitrate on the matter rather than resort to litigation.
11 Pages(2750 words)Essay
International Business and Trade. WTO
Their origins may be traced as far back as early mercantilist theory, which is of the effect that the wealth of a country is safeguarded by increasing the net of export less import, which basically means to out-produce the foreign countries, a situation which led to the development of protectionist policies by most governments (Ivanyna, 2006).
6 Pages(1500 words)Essay
International Business paper
This has had further adverse effects on the people of various countries, many of whom are being laid off from their jobs or are facing pay cuts as international and local businesses try to cope with the downturn in the global economy. It is this same story that is dominating the headlines all over the world from both a global and local perspective as mechanisms change and new measures are brought into place to buck the trend.
9 Pages(2250 words)Essay
Discuss the importance of business ethics in international business
It is sad that the international business has manifested "a dog eats dog" character and has in fact taken advantage of the weak positions of the consumers. Everyday, the consumers are bombarded with endless commercial advertisements not only to allure them but to enslave them to the products.
5 Pages(1250 words)Essay
Summarise the fundamental arguments critics levy at the WTO. What is your own assessment of the WTO in dealing with international trade and investment regulations Use other academic literatures and real world examples to justify your position
regime of the Multilateral trading system rose to international prominence during the Seattle ministerial meeting in 1999 when internal and external protests brought the third Ministerial meeting to a premature closure. The internal protests, initiated by developing country
8 Pages(2000 words)Essay
International Economic- WTO
The World Trade Organization (WTO) has been the governance body on globalization issues related to international trade. The WTO succeeded GATT as an international trade agreement organization but did not exactly replace it. Rather, the General Agreement still exists under
16 Pages(4000 words)Essay
The Strategy of International Business
These processes have also improved the lifestyle of the consumers in different host countries of these internationalized organisations. Alternatively, the new market entrants have also
17 Pages(4250 words)Essay
Let us find you another Essay on topic Explore the importance of the WTO for international business for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us