Nobody downloaded yet

World Trade Organisation - Essay Example

Comments (0) Cite this document
Summary
The World Trade Organisation is based on rules which help prevent discrimination among trading countries, allow the countries to have market access and also help in the elimination of trade barriers. These rules also ensure that there is stability in trade relations and eliminate trade practices that are unjust…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.9% of users find it useful
World Trade Organisation
Read TextPreview

Extract of sample
"World Trade Organisation"

Download file to see previous pages Then after the organisation's final decision a panel is set to hear the issues raised. This panel encourages countries to resolve disputes themselves and if necessary the panel gives compulsory decisions which can be appealed. If a country turns down the appeal then it is forced to change its trade policies or World Trade Organisation authorizes those countries harmed by the policies to impose retaliatory measures to the offending country. These measures include an increase in tariffs, use of subsidies or any other protectionist measure. These measures are a clear indication that World Trade Organisation is based on mercantilist principles and is not aimed at bringing unity among member countries by encouraging free trade. The organisation has principles governing its activities like the non discrimination principle, the reciprocity principle and the transparency principles but it rarely uses them.
Mercantilism is termed as an economic assumption that makes a country prosper. It mostly depends on the capital supply and the volume resulting from international trade. Capital in this theory is represented by silver, gold and any other trade value which the country has. The capital is increased by creating a positive balance in trade with other nations. The country plays protectionist measures whereby it protects its domestic firms against competition from foreigners by use of tariffs, subsidies and quotas. Mercantilism contains policies that the given countries should follow. For example, mercantilism allows a country to utilise its soil for agricultural activities, mining and manufacturing of products. It also allows a country to use its raw materials to manufacture goods since it assumes that finished goods have more value than the materials. This rule also discourages the importation of foreign goods and also says that no importation should be made if the goods are produced in the country. Mercantilism encourages countries to obtain imports that are indispensable first in exchange of other locally produced goods but not silver or gold. This practice encourages countries to seek to have a large working force because it is one of the policies in mercantilism. Countries are also allowed to seek opportunities for selling excess manufacturers to the foreign firms in exchange of gold or silver. Mercantilists assume that only one country should benefit while the other countries should loose in the process. They also believe that any policies that benefit one country can harm the other country by making that country not to experience economic growth thus not helping them to develop. Although most countries practice liberalism mercantilist principles are still common in other countries. The liberalism method has not benefited all trading partners. Countries practicing neo mercantilism have experienced high economic growth compared to countries practicing free trade. For example, the US and United Kingdom have experienced slow economic growth after adapting free trade. WTO ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“World Trade Organisation Essay Example | Topics and Well Written Essays - 3000 words”, n.d.)
Retrieved from https://studentshare.org/politics/1516241-world-trade-organisation
(World Trade Organisation Essay Example | Topics and Well Written Essays - 3000 Words)
https://studentshare.org/politics/1516241-world-trade-organisation.
“World Trade Organisation Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.org/politics/1516241-world-trade-organisation.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
World Trade Organisation (WTO)
...?Answer As far as the origin of World Trade Organisation (WTO) is concerned, it is worth mentioning that initially an international organisation widely known as the General Agreement on Tariffs and Trade (GATT established in 1948) used to exist that was substituted with WTO in 1995. Indeed, WTO should be called an extension of GATT because the latter organisation focused on minimising tariffs on goods only to enhance trade. Nevertheless, WTO focuses on eradicating barriers (such as quotas, protectionist policies, duties etc.) on trade of goods and services. Another characteristic of WTO is that it...
1 Pages(250 words)Essay
The World trade organisation
...?Running Head: World Trade Organisation World Trade Organisation [Institute’s World Trade Organisation Introduction The ‘World Trade Organisation’ is a global entity that is responsible for creating and regulating different statutes and policies for trading of goods and services on international level. According to the BBC (2011), “the World Trade Organisation is an international body whose purpose is to promote free trade by persuading countries to...
2 Pages(500 words)Essay
International Business continutes to increase inexorably and the World Trade Organisation supports this by encouraging countries
...?International Business Task: International Business Introduction The economic policies in Europe are shifting hastily. The emergence of the European Union has changed trading massively. The block has gained massive trading power owing to its massive bargaining power. This has enabled it to set standards for products that its member states should accept. The World Trade Organization (WTO) organization has sought to fight some of the global challenges by increasing trade. These challenges include unemployment, distribution of wealth, and underdevelopment in some nations. Additionally, the WTO has sought to realize objectives such as global economic...
6 Pages(1500 words)Essay
World Trade Organisation Law
...Issue relating to the World Trade Organization Dispute Settlement Procedure Burden of Proof Our essay will focus on the notion of Burden of Proof in the World Trade Organization Settlement Procedure. Before defining the different notions around evidence, we have to understand the notion of Burden of Proof and explain who has to bear it in a dispute settlement The burden of proof is as described in European Communities - Anti-Dumping Duties on Imports of Cotton-Type Bed Linen From India (2001) quoting Canada - Measures Affecting the Export of Civilian Aircraft (1999) "a procedural concept which speaks to the fair and orderly management and disposition of a...
8 Pages(2000 words)Essay
Dispute Settlement in the World Trade Organisation
...Dispute Settlement in the World Trade Organisation Introduction At the heart of the multilateral trading system created in the 1990s is the World Trade Organisations's and its dispute settlement procedures. It is through these procedures that the many kinks of the international trade flow are worked over. In a world of intense global competition member states of the WTO are attempting to pave the way towards a more just and organised trading system by affecting positive change and finding just ends to economic conflicts through dispute resolutions. Yet...
10 Pages(2500 words)Essay
What, if anything, is wrong with the World Trade Organisation
...World Trade Analysing Strengths and Weaknesses In the World Trade Organisation You Organisation World Trade 2 Since its inception in 1995, the World Trade Organisation (WTO) has been both heralded and criticised for its influence in the negotiation and implementation of global trade initiatives. Consisting of over 140 member nations, the Geneva-based WTO acts as an independent entity that oversees key cross-border trade issues and global business practices (Nickels et al 2005, p.89). The overriding objective of the...
5 Pages(1250 words)Essay
The World Trade Organisation
...The World Trade Organisation - Uncovering the Truth behind the Accusation that the WTO is Benefiting Richer Nations to the Detriment of the PoorerOnes - Student’s Name Instructor’s Name Subject / Course Date Total Number of Words: 1,986 Table of Contents I. Introduction ………………………………………………………………. 3 II. Thesis Statement ………………………………………………………… 3 III. Advantages and Disadvantages of Joining the WTO ………………... 4 a. Advantages ………………………………………………………. 4 a.1 Increases the Overall Economic Activities in Developing Countries …………………………………. 4 a.2 Widening the Business Opportunity by Widening the Available Target Market ……………………………….. 5 a.3 Narrows Down...
18 Pages(4500 words)Essay
Why has the World Trade Organisation failed to establish a free trade regime
...Why has the World Trade Organisation failed to establish a free trade regime? The increase of commercial activities internationally has highlighted the need for the establishment of a mechanism that will support negotiations among states in regard to international trade. The introduction of the World Trade Organization – resulted in fact from the Round of Uruguay – has been considered as the most appropriate solution for the elimination of problems in the negotiations on international trade issues. A series of rules has been developed ensuring the credibility of the relevant procedures – these rules are...
4 Pages(1000 words)Coursework
World Trade Organisation Capability to Meet the Challenges
...Assess the WTO's Capability to Meet the Challenges of the Multilateral Agenda Introduction World Trade Organisation (WTO) is an international welfare organisation entrusted with the responsibility of improving trade operations. In this regard, WTO has formulated and implemented different trade policies based in which trade barriers are reduced. Additionally, WTO ensures that discriminations in trade operations are minimised. Besides, the prime objective of WTO is to enhance global trade operations (World Economic Forum, 2010). Presently, the trade...
3 Pages(750 words)Essay
Examine the perspective that membership of the World Trade Organisation is beneficial for developing countries
...Membership of the World Trade Organization and Developing Countries The World Trade Organization (WTO) is an organization that aims at supervising and liberalizing trade internationally. WTO is mainly concerned with how to regulate trade among member states by creating forums for negotiation and it formalizes trade agreements to make the whole process successful. The WTO is a powerful organization having the most influential states globally as members. Therefore, it has significant influence over trade policies and practices globally. This organization advocates a free trade model and...
7 Pages(1750 words)Essay
sponsored ads
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.
Let us find you another Essay on topic World Trade Organisation for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us