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.

World Trade Organization (WTO) impacts agriculture - Research Paper Example

Comments (0)
Summary
World Trade Organization (WTO) Impacts Agriculture The WTO is the sole international organization that deals with the regulation of international trade. Central to the WTO lies WTO agreements conferred and signed by most trading countries and ratified within their individual parliaments…
Download full paper
GRAB THE BEST PAPER
World Trade Organization (WTO) impacts agriculture
Read TextPreview

Extract of sample
"World Trade Organization (WTO) impacts agriculture"

Download file to see previous pages The aim of the WTO and the agreements is to assist exporters, importers, consumers and producers to conduct international trade. The outcome is essentially assurance as producers and consumers feel that they have security in supplies and a range of options of products, services and raw materials. As a result of accountability in the economic world, international trade is peaceful and prosperous as the WTO settles trade disputes by interpreting commitments and agreements made by member states. This paper will examine various areas of trade such as international and domestic trade, discussing different elements that influence both forms of trade. The essence of trade is to benefit both consumers and sellers in a mutually beneficial relationship (Mankiw, 2011). Compare and contrast free trade and protectionist theories  Economists continue to argue on the issue of protectionist theories and free trade. These arguments are complex, but the underpinning controversy is even greater. Free trade refers to a strategy through which a government allows imports and does not interfere with exports. This is through the application of import tariffs or export quotas or subsidies. Free trade allows both trading partners to gain from trade. This is because, under free trade, the prices of goods and services emerge from the forces of demand and supply (Mankiw, 2011). In addition, free trade allows resource allocation on account of demand and supply. Free trade enables counties to acquire greater levels of production and consumption, which they can obtain in isolation. In case of perfect competition, free trade allows optimal, global resource allocation. This essentially means that free trade allows trading countries to achieve equality in their marginal production transformation rates (OECD, 2000). Theory on free trade suggests that free trade facilitates income increments and equitable distribution of income among countries (Lambert & McKoy, 2009). Free trade differs significantly from protectionist theories since the latter allows the determination of the allocation of products and services amongst trading nations on the basis of different price strategies. The different price strategies amongst trading partners emerge from government interventions in the market. Here, governments intervene by adjusting prices or instituting supply restrictions. Essentially, under protectionist theories of trade, government interventions either increase or decrease the cost of products and services to producers and consumers. Protectionism involves the establishment of trade barriers such as currency restrictions with regard to international trade, taxes, import quotas and other subsidies offered to domestic industries. The essential purpose of protectionist theories is to protect domestic industries from losses incurred in unstable marketplaces (Giovanni, Bohman, Carter, & McCalla, 2007). Consequently, governments also establish non-tariff barriers. They include: the Central America Free Trade Agreement (CAFTA) and the North America Free Trade Agreement (NAFTA), which intervene in markets, hence producing artificial prices. These are prices not set by the natural mechanisms of demand and supply. Moreover, protectionist theories deter equilibrium in countries’ marginal production transformation rates by establishing differences between international and domestic prices of goods (Mankiw, 2011). In essence, this means that protectionist theories produce suboptimal allocations of factors of production, as well as lower global real income than free trade would produce. Protectionism reallocates income, which would not occur under free trade since income reallocation would mean one ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
To what extent have the fair-trade initiatives increased standard of living in West Africa
The study examines the analysis surrounding the economies of West Africa, their political stances, and their trade policies, as well as the world economy, and West Africa’s part in it will. The information from the analyses will show the realities of the situation in West African countries and their economic relationships with particularly the Western, developed world.
15 Pages(3750 words)Research Paper
Worldwide trade.The advantages and disadvantages of free trade and the relative comparisons to fair trade
However, there is a difference between free and fair, corporations finding ways to best exploit the lack of regulation in order to achieve the highest level of profit from the exploitation of resources.
10 Pages(2500 words)Research Paper
Biodiversity Research Paper
As explained in the BT corn example, for instance, farmers will no longer have to purchase pesticides and thus there will be a decrease in their production costs. They have also argued that biotechnology also means cheap food accessible to a great number of people and more nutritious as well.
8 Pages(2000 words)Research Paper
How has Globalization Impacted the Developing World
The sharing of goods, services, and skills has improved technology worldwide; this interaction among countries leads to integration. Beer & Koster (2009, p.106) emphasize that globalization involves increased cross-border interactions. The developed nations are likely to gain huge profits from investing, especially in developing nations; as a result, the level of poverty is reduced in the developing nations.
9 Pages(2250 words)Research Paper
HOW DOES INTERNATIONAL INSTITUTIONAL ARRANGEMENTS SUCH AS WORLD TRADE ORGANIZATION (WTO), EUROPEAN UNION (EU) AND NORTH AMERICA
45-6). On the other hand, free trade refers to a government policy that helps to avoid discrimination against imports or any kind of interference with imports through application of tariffs to (imports) and/or subsidies to (exports). It aims at getting rid of unfair trade barriers in the global market plus aims at helping raising the economy in both developed and developing countries.
4 Pages(1000 words)Research Paper
Beef Hormones Issue
As expert scientists prove, the use of growth hormones in food animals poses a potential risk to consumers’ health because hormones found in meat from these animals can disrupt the consumer’s hormone balance, cause development problems, interfere with the reproductive system and even lead to the cancer development. 
18 Pages(4500 words)Research Paper
Research paper about world Trade organization (WTO) impact on environment
However, one can surely say that these activities of humans or countries do not result in development only, as the same physical and mental activities have resulted in destructions to earth as
5 Pages(1250 words)Research Paper
World Health Organization (WHO)
Inevitably, the main perspective of every organization is to increase the shareholder’s equity (Aqib & Javaid, 2010). In a broad nutshell, there are different kinds of organizations, which predominantly
5 Pages(1250 words)Research Paper
WTO (world trade organization)
In order to understand WTO, it is good to highlight the history of the organization, functions, and how it helps today as well as what it stands for. There was a rigorous process
2 Pages(500 words)Research Paper
TPP-Pacific Trade Partnership and International Business
reements across the globe, TPP is of much interest because of its coverage as well as due to the presence of the United States of America as a partner during negotiations. The other reason is that as a trade agreement, it will overlap many other free trade agreements thus its
18 Pages(4500 words)Research Paper
Let us find you another Research Paper on topic World Trade Organization (WTO) impacts agriculture for FREE!
Contact us:
+16312120006
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