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World Trade Organization - Essay Example

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This essay "World Trade Organization" makes an earnest endeavor to pinpoint the grey areas when one touches the finer aspects related to globalization and WTO, which in this day and age are interesting and debatable topics. Much emphasis needs to be given in the relevant regards…
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Download file to see previous pages It is a paradigm shift or a movement as we might call it, one that brings more stability within the ranks (where it is applied) and unison in the efforts and activities of all concerned. More often than not, we have seen improvements within the present-day systems owing to globalization and it is because of this very perspective of change that we see world bodies doing their utmost to reach out to far-flung areas and explore hidden markets for the betterment of one and all. (Berberoglu, 2005)
In an economic zone, globalization plays a significant role in increasing trade on an international front which as compared to the global economy, is much faster and ahead of its time. Furthermore, we can predict an increase in the flow of capital that has been coming from the global regimes which might include foreign direct investment as being one part of it. (Aase, 2004) Then there are the agreements that are signed on a global scale that eventually lead to world bodies like the World Trade Organization (WTO) and others. Global financial systems also come to light as their developmental work gets thumbs up. International transactions speed up as the world bodies like WTO, WIPO, IMF and the like play their role in a more coherent and active manner. Economic practices like global sourcing or outsourcing as we know of it, off-shoring and others increase courtesy the multinational concerns. Within globalization, the legal stance is one that focuses more on the increase in the number of different standards worldwide, which in all essence must be made use of. These include copyright laws, privacy obligations, patenting and others which somehow or the other mesh along well with the legal framework of different multinationals and institutions as a result of the same. Globalization helps improve cultural exchange across a wide cross-section of regions scattered all over the world. It helps in playing its due part in the multiculturalism concept where the individuals within it have easy access to the cultural diversities of one another. ...Download file to see next pagesRead More
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