THE WORLD TRADE ORGANISATION
SUMMARY
The World Trade Organisation deals with the rules of trade between nations at a near global level. The World Trade Organisation is a place where governments try to sort out trading problems they have with each other. It is known for being an organisation that liberalised trade and encouraged support to enhance trade globally, trade in the respect of services, capital, goods, labour and information.
ROLE
The role of the World Trade Organisation is to essentially provide states that have grievances with passages of trade the chance to dispute their quandary. The WTO aims to promote economic stability and growth, removing state limitations of imports/exports by removing trading challenges/barriers and to provide a framework for states to work in by governing the rules of world trade.
OBJECTIVES AND PROBLEMS
The objectives of this organisation is to have a working forum of negotiation, resolving disputes and monitoring overseas treaties. The WTO governs global systems of trade rules and its role is to enable countries to develop free trading agreements and to work with members of states to improve trade/marketing capacity. The WTO is an important organisation because it helps local economies by highlighting positives and by doing this a higher standard of living is achieved. Some problems that the WTO is faced with is the "race to the bottom" concept of globalized marketing (trade liberalization is to magnified), Doha, free trade is not the most effective way to trade and is too ignorant of social factors.
CRITICISM AND POWER
A criticism of the WTO is that it has been too westernised and developed and that is it also is influenced by TNC's very easily. The power the WTO holds is quite a lot as it holds many members from many different states that can influence their people and WTO can force states to agree with their decisions. Once a state has signed to WTO it has the ability to achieve its goals, the benefit of working with the WTO and the countries that don’t participate put a limit access for those who do and this pressures those states to sign as well. Despite their power states are reluctant (both democratic developed states and communist states) to sigh because in doing so they give up so much economic sovereignty. There has been a dispute in regulation were the WTO has helped by stepping. From 2010 to 2012 the Australia VS New Zealand Apple Trade where New Zealand had a problem with the way Australia was (or wasn’t importing) apples. The influence the WTO has is that is helps states to grow their states economies to improve their countries living standard and local economy, for example, helping Jordan and Latvia do this.
SUMMARY
What is the role of the WTO?
The WTO has five main roles and missions:
1. The progressive opening and regulation of markets; the WTO wants to open the markets of many states, in a respectful and gradual form.
2. To act as conductor; International trade is governed by very precise rules that have been developed by the WTO's members. Countries engaging in international trade under the WTO must apply these rules when trading with one another. The WTO acts as the orchestra conductor, ensuring that rules are respected.
3. To act as trainer;
The WTO provides training programmes for government officials from developing countries ‑ for example, ministry staff or customs officials. The main beneficiary to date of such programs has been Africa.
4. To act as a monitor; the WTO regularly monitors the trade habits of member states, and ensures they are following WTO rules and policy.
5. To provide a tribunal; a main a crucial role of the WTO is to settle trade disputes between members. Member states are able to file complaints against one another, and the WTO manages these complaints and the progress of resolution surrounding the disputes between both parties.
CASE STUDY
The following snippet is from an article from the magazine 'the diplomat,' it accurately demonstrates the WTOs role in situations such as that of the US and China:
Growing tensions in U.S.-China trade relations generated by the rapid expansion of Chinese exports to the U.S. have led both countries to frequently resort to the World Trade Organization dispute settlement mechanism. Noticeably, both Washington and Beijing seem to be more frequently using the DSM to target issues of critical concern to their respective domestic constituencies. While the U.S.’ WTO trade disputes against China tend to target Chinese industrial policy and challenge the dominance of state-owned enterprises, cases involving antidumping duties and countervailing duties have taken up a disproportionate share of China’s WTO disputes against the United States.
Doha Round
As stated on the WTO website: The Doha Round is the latest round of trade negotiations among the WTO membership. Its aim is to achieve major reform of the international trading system through the introduction of lower trade barriers and revised trade rules. The work programme covers about 20 areas of trade. The Round is also known semi-officially as the Doha Development Agenda as a fundamental objective is to improve the trading prospects of developing countries.
The Round was officially launched at the WTO’s Fourth Ministerial Conference in Doha, Qatar, in November 2001. The Doha Ministerial Declaration provided the mandate for the negotiations, including on agriculture, services and an intellectual property topic, which began earlier.
In Doha, ministers also approved a decision on how to address the problems developing countries face in implementing the current WTO agreements.
Featured here is an easy to understand analogy of how trade negotiations work- courtesy of the WTO website. Before defining the principles of international trade, WTO members have to negotiate them. Every eight to ten years or so, they launch a new round of trade negotiations. They begin by defining the subjects to be included. For example, the current round, known as the Doha Round, has 20 dishes on the negotiation menu, including agriculture, the environment, fisheries, development, etc. The meal is prepared by 157 chefs (the 157 WTO members). Given the number of dishes and chefs involved, producing the meal is a lengthy and difficult process, and it is not surprising that it can be a long time before the family can sit down to enjoy it.
SUMMARY
The World Trade Organisation deals with the rules of trade between nations at a near global level. The World Trade Organisation is a place where governments try to sort out trading problems they have with each other. It is known for being an organisation that liberalised trade and encouraged support to enhance trade globally, trade in the respect of services, capital, goods, labour and information.
ROLE
The role of the World Trade Organisation is to essentially provide states that have grievances with passages of trade the chance to dispute their quandary. The WTO aims to promote economic stability and growth, removing state limitations of imports/exports by removing trading challenges/barriers and to provide a framework for states to work in by governing the rules of world trade.
OBJECTIVES AND PROBLEMS
The objectives of this organisation is to have a working forum of negotiation, resolving disputes and monitoring overseas treaties. The WTO governs global systems of trade rules and its role is to enable countries to develop free trading agreements and to work with members of states to improve trade/marketing capacity. The WTO is an important organisation because it helps local economies by highlighting positives and by doing this a higher standard of living is achieved. Some problems that the WTO is faced with is the "race to the bottom" concept of globalized marketing (trade liberalization is to magnified), Doha, free trade is not the most effective way to trade and is too ignorant of social factors.
CRITICISM AND POWER
A criticism of the WTO is that it has been too westernised and developed and that is it also is influenced by TNC's very easily. The power the WTO holds is quite a lot as it holds many members from many different states that can influence their people and WTO can force states to agree with their decisions. Once a state has signed to WTO it has the ability to achieve its goals, the benefit of working with the WTO and the countries that don’t participate put a limit access for those who do and this pressures those states to sign as well. Despite their power states are reluctant (both democratic developed states and communist states) to sigh because in doing so they give up so much economic sovereignty. There has been a dispute in regulation were the WTO has helped by stepping. From 2010 to 2012 the Australia VS New Zealand Apple Trade where New Zealand had a problem with the way Australia was (or wasn’t importing) apples. The influence the WTO has is that is helps states to grow their states economies to improve their countries living standard and local economy, for example, helping Jordan and Latvia do this.
SUMMARY
What is the role of the WTO?
The WTO has five main roles and missions:
1. The progressive opening and regulation of markets; the WTO wants to open the markets of many states, in a respectful and gradual form.
2. To act as conductor; International trade is governed by very precise rules that have been developed by the WTO's members. Countries engaging in international trade under the WTO must apply these rules when trading with one another. The WTO acts as the orchestra conductor, ensuring that rules are respected.
3. To act as trainer;
The WTO provides training programmes for government officials from developing countries ‑ for example, ministry staff or customs officials. The main beneficiary to date of such programs has been Africa.
4. To act as a monitor; the WTO regularly monitors the trade habits of member states, and ensures they are following WTO rules and policy.
5. To provide a tribunal; a main a crucial role of the WTO is to settle trade disputes between members. Member states are able to file complaints against one another, and the WTO manages these complaints and the progress of resolution surrounding the disputes between both parties.
CASE STUDY
The following snippet is from an article from the magazine 'the diplomat,' it accurately demonstrates the WTOs role in situations such as that of the US and China:
Growing tensions in U.S.-China trade relations generated by the rapid expansion of Chinese exports to the U.S. have led both countries to frequently resort to the World Trade Organization dispute settlement mechanism. Noticeably, both Washington and Beijing seem to be more frequently using the DSM to target issues of critical concern to their respective domestic constituencies. While the U.S.’ WTO trade disputes against China tend to target Chinese industrial policy and challenge the dominance of state-owned enterprises, cases involving antidumping duties and countervailing duties have taken up a disproportionate share of China’s WTO disputes against the United States.
Doha Round
As stated on the WTO website: The Doha Round is the latest round of trade negotiations among the WTO membership. Its aim is to achieve major reform of the international trading system through the introduction of lower trade barriers and revised trade rules. The work programme covers about 20 areas of trade. The Round is also known semi-officially as the Doha Development Agenda as a fundamental objective is to improve the trading prospects of developing countries.
The Round was officially launched at the WTO’s Fourth Ministerial Conference in Doha, Qatar, in November 2001. The Doha Ministerial Declaration provided the mandate for the negotiations, including on agriculture, services and an intellectual property topic, which began earlier.
In Doha, ministers also approved a decision on how to address the problems developing countries face in implementing the current WTO agreements.
Featured here is an easy to understand analogy of how trade negotiations work- courtesy of the WTO website. Before defining the principles of international trade, WTO members have to negotiate them. Every eight to ten years or so, they launch a new round of trade negotiations. They begin by defining the subjects to be included. For example, the current round, known as the Doha Round, has 20 dishes on the negotiation menu, including agriculture, the environment, fisheries, development, etc. The meal is prepared by 157 chefs (the 157 WTO members). Given the number of dishes and chefs involved, producing the meal is a lengthy and difficult process, and it is not surprising that it can be a long time before the family can sit down to enjoy it.