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Global Economic Perspectives - Essay Example

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This essay "Global Economic Perspectives" discusses institutions in international trade, foreign direct investment, governmental intervention in international trade, theories of international trade. Also, it considers of the risks involved when participating in international trade…
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Global Economic Perspectives
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Global Economic Perspectives

Download file to see previous pages... The major principles around which GATT / WHO function are:The major principles around which GATT / WHO function are: Non-discrimination: All member countries are treated at par and on the merits of the trade issue at hand and even the smallest members have the opportunity to present their case against any other member irrespective of size or global clout to protect its international trade interests.Transparency: Members of WTO can review and debate issues of international trade and agreements in an open forum, and due to its functioning being similar to that of a tribunal, absolute transparency is assured in the search for their resolution in a timely manner.Member-driven organisation: The WTO is run by and for its members, and all decisions are taken with the complete knowledge of all members after consultation in an open forum.The WTO contributes to international trade in many different ways.• Assisting developing and transition economies: Out of a total of 148 members, about three-fourths are developing countries, and in addition to economies that are transitioning to the open market, play an ever-increasing role in the functioning of the WTO. With the increasing influence of these countries in the functioning of the WTO, as also their increasing influence in world affairs, the WTO assists these nations in meeting their needs and solving their problems. The WTO Secretariat’s Training and Technical Cooperation Institute organizes training programmes and workshops for officials of such governments. ...Download file to see next pagesRead More
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