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Developing Countries and Dispute Resolutions - Research Paper Example

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The research paper "Developing Countries and Dispute Resolutions" states that As a matter of fact, in carrying out trade between countries, there arise disputes that must be settled. There has to be an internationally recognized body responsible for solving these international disputes. …
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Extract of sample "Developing Countries and Dispute Resolutions"

Download file to see previous pages This research paper seeks to find ways in which the developing countries can play a major role in the realization of the WTO's aims and objectives. It aims at finding ways in which the roles of the developing countries in the WTO can be seen as major roles rather than a minor role.
At the center of the multilateral trading system are a group of economic actors and agents who include investors and financiers, importers, exporters, producers, consumers and workers, facilitators who are the service providers like the banks, insurance agents, transport and telecommunication services, and rules of engagement. This has to be in tandem with each, therefore, the rise of the World Trade Organization

An overview of the dispute settlement body of the World Trade Organization is helpful to set the context of the comments, research, and analysis that follow. With the rise of globalization and liberalization, international trade policy has become a very complex phenomenon. Of the key texts that emerged from the Uruguay round of trade talks, ‘understanding of rules and procedures governing the settlement of disputes’ is most vocal (Iwasawa, 291).

The disputes settlement body (DSB) is one of the integral parts of the agreement establishing the WTO. The World Trade Organization is based on the principle of single undertaking as opposed to the old system of dispute settlement under the generalized system of Tariff and Trade (GATT) which advocated for positive consensus before any decision by the panel of adjudicators was adopted (Iwasawa, 295). The GATT system has in the past led to blockage of the settlement procedure by the member countries either at the establishment of the panel stage or the adoption of the panel report stage.
Such a case was in1988 when the United States of America imposed sanctions against Brazil imports under the Super 301 trade Act of 1974 on the ground that Brazil failed to give patent protection to pharmaceutical products manufactured by the USA companies. ...Download file to see next pagesRead More
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