...International Trade Theory and Policy Institution Date The aim of this article is to discuss a number of issues associated with the international trade theory and policy. First, the motives, nature and purpose of the original General Agreement on Tariffs and Trade have been discussed in this article. Also, the extent to which this purpose was achieved in the first 6 rounds of negotiations has been discussed. The reasons that drove President Reagan and his administration to propose the eighth round of negotiations are also featured in this article. Lastly, the reasons why there is still a significantly steep “effective” tariff hampering global free trade, despite fairly low tariffs on final goods have also been discussed in this article. The General Agreement on Tariffs and Trade (GATT) was formed in1947. This was after the United Nation conference whose aim was to create the International Trade Organization failed. The GATT came to an end in 1993. In 1995, the (World trade organization WHO) replaced GATT. GATT principal purpose was to boost fair trade by reducing and taking control of the trade tariffs amongst its member countries. In addition, it was responsible solving any trade disputes between the member countries. Before it ended, The GATT had become interested in the intellectual property rights and the effects of global trade on the environment. The General Agreement on Tariffs and Trade had a provision known “as the most favored nation status.” GATT refers...
Words: 2289 - Pages: 10
...IIBM INSTITUTE OF BUSINESS MANAGEMENT Answer Sheet Business Communication Rahul Sancheti 14/07/2015 The Detailed study Of The Business Communication has Been Submitted To The IIBM Institute Of Business Management Answer Sheet Business Communication Section A: Objective Type & Short Questions Part one: Multiple choice: 1. __________is an essential function of Business Organizations: a. Information b. Communication c. Power d. None of the above Ans:B 2. Physiological Barriers of listening are: a. Hearing impairment b. Physical conditions c. Prejudices d. All of the above Ans:A 3. Which presentation tend to make you speak more quickly than usual: a. Electronic b. Oral c. Both „a‟ and „b‟ d. None of the above Ans:B 4. What is the main function of Business Communication: a. Sincerity b. Positive language c. Persuasion d. Ethical standard Ans:C 5. The responsibilities of the office manager in a firm that produces electronics spares is: a. Everything in the office runs efficiently b. Furniture and other equipment in the office is adequate c. Processing all the incoming official mail and responding to some d. All of the above Ans:D 6. Labov‟s Storytelling Model based on: a. Communication through speech b. Language learning c. Group Discussions d. None of the above Ans:A 7. Diagonal Communication is basically the: a. Communication across boundaries b. Communication between the CEO and the managers ...
Words: 8234 - Pages: 33
...A: Objective Type & Short Questions (30 marks) This section consists of multiple choices and Short Notes type questions. Answer all the questions. Part one questions carry 1 mark each & Part Two questions carry 4 marks each. Part one: Multiple choices: 1. __________is an essential function of Business Organizations: a. Information b. Communication c. Power d. None of the above 2. Physiological Barriers of listening are: a. Hearing impairment b. Physical conditions c. Prejudices d. All of the above 3. Which presentation tend to make you speak more quickly than usual: a. Electronic b. Oral c. Both „a‟ and „b‟ d. None of the above 4. What is the main function of Business Communication: a. Sincerity b. Positive language c. Persuasion ...
Words: 2865 - Pages: 12
...General Agreement on Tariffs and Trade 1994 ------------------------------------------------- ------------------------------------------------- The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement regulating international trade. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis." It was negotiated during the UN Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). GATT was signed in 1948 and lasted until 1993, when it was replaced by the World Trade Organization in 1995. The original GATT text (GATT 1958) is still in effect under the WTO framework, subject to the modifications of GATT 1994 ------------------------------------------------- ------------------------------------------------- GATT and the World Trade Organization ------------------------------------------------- In 1993, the GATT was updated (GATT 1994) to include new obligations upon its signatories. One of the most significant changes was the creation of the World Trade Organization (WTO). The 75 existing GATT members and the European Communities became the founding members of the WTO on 1 January 1995. The other 52 GATT members rejoined the WTO in the following two years (the last being Congo in 1997). Since the founding of the WTO, 21 new non-GATT...
Words: 1007 - Pages: 5
...BUSINESS COMMUNICATION SECTION:-A Part One: 1.B 2.D 3.A 4. 5. 6.B 7.B 8.D 9.A 10.D Part Two: 1. Define Communication. How can you classify Communication? Ans: Communication is the process where the one person is expressing his or her idea and the other one is listening to the idea being expressed by the one who is talking. That is how you define communication. When this results to have an understanding to both of them, therefore there is already a communication. In other words, when a person is talking, the other person should listen so that he will understand to what the other person is talking about. When a person talks and nobody listens, then there is no communication happening because there is no understanding. The people just heard what the person in front of them is talking but they do not listen to it well that is why they do not understand about the topic. I will give you further examples for you to understand what communication is. There is a seminar for teachers at the school gym. All of the teachers of the school attended the seminar. Knowledgeable personnel were invited to talk in front of the teachers to discuss to them the new method of writing an effective lesson plan. While the personnel are talking in front, his audiences were not listening to him carefully. The teachers are not listening well. So, no communication is happening to the people in the gym. How will the teachers know the new method of writing an effective...
Words: 9465 - Pages: 38
...investor, the treasury and the financial compliance. “An exchange rate is simply the rate at which on currency is converted into another” (Hill, 2009, p. 324). This assignment will define the tariff and non-tariff barriers, the impact in the operations of the global financing and the managing risks. Tariff and non-tariff barriers Tariff is a “tax levied on import (or exports)” (Hill, 2009, p. 6). There are different types of tariff. There are specific tariffs where the price never changes, is always the same. The revenue tariff who raise the money for the government The prohibitive tariff is the one that the price is so high that nobody imports or export with that type of tariff. The protective tariff price of the imports goods and keep their domestic industries save from the competition. The environmental tariff is like the protective tariff but is relate to the environmental. The last one is the retaliatory tariff, already have charges against the country. The non-tariff barriers (NTBs) is the one that will have restrictions for any imports. Some examples are packaging and labeling conditions, products standards, quotas (specific) for the product, licenses for import goods, and sanitation conditions. There are three categories of non-tariff barriers. The first category is the restrictions for imports goods that include the licenses and the import quotas, the import prices (minimum) and deposit, etc. The second category is the methods that there are not directly...
Words: 1063 - Pages: 5
...Trade Name Institution Barriers to trade are government-induced restrictions on trade. There are several different types of trade barrier. They include tariffs and non-tariff barriers. A tariff is the amount of import duty charged on a particular type of goods. Non-tariff trade barriers are measures intended to favor local industry (Maskus, 2001). They can include trade regulations, labeling rules, and unfair government subsidies The World Trade Organization (WTO) deals with the global rules of trade amongst nations and its main purpose is ensuring that trade flows as smoothly, predictably and freely as possible. A major rule of the multilateral trade system states that reductions in trade barriers are applied, on a most-favored-nation basis, to all World Trade Organization members (Hoekman, 2009). This means that no WTO member is discriminated against by a fellow member's trade regime. Regional trade agreements (RTAs) are however an exception to this rule. Under RTAs reductions in trade barriers apply only to the parties to the agreement. There are two major types of regional trade agreements under the World Trade Organization; customs unions and free trade areas. Some countries may decide to sign interim agreements operating during a transition period, ultimately leading to the creation of a customs union or a free-trade area. Regional trade agreements must be consistent with the World Trade Organization rules that govern such agreements, which require...
Words: 653 - Pages: 3
...facilitate development through trade and thereby better integrate the more disadvantaged into the global economy. The conclusion of the Doha Round however has been much harder to conclude than any other trade round in the history of the WTO for many reasons that will be highlighted below. Table of Contents I Executive Summary 1 II Introduction 3 III The World Trade Organisation 3 IV Other Rounds of the World Trade Organisation 3 V The Doha Round 4 Negotiations: geographical indications —multilateral register for wines and spirits 4 TRIPS, biological diversity and traditional knowledge (Doha paragraph 19) 4 Geographical indications — ‘extension’ 4 VI Problems With Concluding the Doha Round 4 The Single Undertaking Method: 5 Changed Geopolitical Situations: 5 Trade Liberalisation and Non-agricultural Market access (NAMA): 5 Agriculture: 5 VII Conclusion 6 VIII References 6 II Introduction The effort to launch a new round of multilateral trade negotiations in the late 1990s was turbulent in two ways. First, the WTO, with its broader mandate became a focal point for protests against globalization. Second, the governments of the member countries had difficulty agreeing on what the new round should accomplish a challenge because decision making in the WTO is generally by consensus. So after failing to begin a new round at the WTO conference that was held in Seattle in 1999, the...
Words: 1898 - Pages: 8
...Who we are | Location: Geneva, Switzerland Established: 1 January 1995 Created by: Uruguay Round negotiations (1986-94) Membership: 157 countries on 24 August 2012 Budget: 196 million Swiss francs for 2011 Secretariat staff: 640 Head: Pascal Lamy (Director-General)Functions: • Administering WTO trade agreements • Forum for trade negotiations • Handling trade disputes • Monitoring national trade policies • Technical assistance and training for developing countries • Cooperation with other international organizations | | There are a number of ways of looking at the World Trade Organization. It is an organization for trade opening. It is a forum for governments to negotiate trade agreements. It is a place for them to settle trade disputes. It operates a system of trade rules. Essentially, the WTO is a place where member governments try to sort out the trade problems they face with each other. The WTO was born out of negotiations, and everything the WTO does is the result of negotiations. The bulk of the WTO’s current work comes from the 1986–94 negotiations called the Uruguay Round and earlier negotiations under the General Agreement on Tariffs and Trade (GATT). The WTO is currently the host to new negotiations, under the ‘Doha Development Agenda’ launched in 2001. Where countries have faced trade barriers and wanted them lowered, the negotiations have helped to open markets for trade. But the WTO is not just about...
Words: 5154 - Pages: 21
...Negotiation Strategy Article Paul Swain MGT/445 May 1, 2012 Kevin Maevers University of Phoenix Negotiation Strategy Article Analysis Globalization of business through technology, such as e-mail, Skype, and cell phones evolves the way people negotiate. Electronic negotiations becomes effective when each party live in different countries or states. Study show electronic negotiations either cost organizations’ money, loss of relationship, and reputation. Before negotiating with any organization or individual electronically, the suggestions from a few articles provide scenarios to achieve the organizations goals. Traditional tactics in negotiation allow personalization, rapport building; however, with poor training, experience, and meager negotiation tactics endanger the result of closing the deal. The importance for organizations to recognize a customer wants, needs, values, and concerns assist during the negotiation process. Analyzing two different articles provides the reader with different methods and strategies, which later compares, and contrasts. Electronic Negotiators The use of technology benefits both parties to close, fund, transfer, alternate proposals, contracts, or receive a commitment accordingly. Northwestern University provided several students with an interesting test, which according to Charles Craver, a writer for The Negotiator Magazine, mentions half of the students who made preliminary phone calls before e-mail negotiations succeeded with...
Words: 1426 - Pages: 6
...of the trade topics are Goods, Services intellectual property along with other topics. The topic of Services- The general agreement on trade in services (GATS), financial services, telecommunications, etc. includes analyses of service trade in service in the WTO. The (GATS) covers all services with a few exceptions. What I learn the most about this web site was basically everything but what I found most interesting is that the WTO was born out of negotiations, and everything the WTO does is the result of negotiations. The bulk of the WTO’s current work comes from the 1986–94 negotiations called the Uruguay Round and earlier negotiations under the General Agreement on Tariffs and Trade (GATT). The WTO is currently the host to new negotiations, under the ‘Doha Development Agenda’ launched in 2001. Where countries have faced trade barriers and wanted them lowered, the negotiations have helped to open markets for trade. But the WTO is not just about opening markets, and in some circumstances its rules support maintaining trade barriers — for example, to protect consumers or prevent the spread of disease. References...
Words: 265 - Pages: 2
...are established as a result of a majority vote by its members and are such are referred to as negotiated agreements. The five fundamental WTO principles are; • Trade without discrimination • Freer trade: through negotiation • Predictability: through binding and transparency • Promoting fair competition • Encouraging development and economic reform Trade without discrimination This WTO principle agreement advocates that countries cannot discriminate between its trading partners. This is in WTO language is referred to as Most-favoured-nations (MFN). Under the General Agreement on Trade in Services (GATS), when a country opens up its boarders and allows foreign competition in a particular country, that host country must also give equal opportunity to all WTO member countries in the same sector. This principle covers all services but the agreement allows some exceptions. Some of the exceptions are; A country is able to set up a trade agreement that applies to goods traded only within its trading partners and it can discriminate against goods from outside the country, special access to markets can be given to developing nations if certain products from some specific countries are considered to be traded unfairly, the host country is able to raise its barriers against such specific products. However these exceptions are reviewed from time to time and they are not meant not to last more than 10 years. Also under this principle is treating foreigner and local equally as well...
Words: 650 - Pages: 3
...Kim Chiang Luna Negotiation Case Analysis Deutsche Grusskarte Gesellschaft (DGG) and Global Service BATNA The Luna Case served as a dynamic negotiation process as it surfaced gender, cultural, and geographical barriers. In William Ury’s book Getting Past No, each of the five barriers to cooperation was touched upon: your reaction, their emotion, their position, their dissatisfaction, and their power. Realistically, there were many plausible negotiation strategies that Erika Graeper could have pursued, but in my opinion DGG’s strongest BATNA was to open up communication with Mr. Feng via formal letters and phone calls and demand compensation from Global Services for past and future sales (15% royalties with proof of monthly income). In bridging partnership, DGG would grant Global Services full permission for Luna pens to be sold in the Southeast Asian market. Global Service’s BATNA would be to continue to expand the market of pens and be granted fully autonomy of the Luna pen without being pressed for legal action. DGG [Represented by Erika Graeper] and Global Service’s Interest DGG’s current interests are not to revamp the production of the Luna pen, but they are interested in receiving royalties from Global Services for past, present, and future sales. In the negotiation process, DGG must remember that their company discontinued manufacturing and selling the pen years ago and any type of compensation should be recognized as a triumph. Alternatively, Global Services’...
Words: 1024 - Pages: 5
...applicable while trying to understand this problem – a liberal view and a realist view. The liberal view believes that economics is the most important factor when it comes to international trade and if countries take collective action it will be for economic reasons. On the other hand the realist view believes that economics does not drive collective action in trade but politics does. Collective action in the context of international trade can be defined as free trade where countries do not put barriers for flow of goods and services and they work together to remove these barriers to ensure greater efficiencies. This lack of barriers is not the normal course of actions as pointed out by realists who believe that all nations act in their selfish interest and unless they are an export oriented economy with greater export than import, they will have very little incentive to remove barriers. But, it is believed by realists that if multiple countries come together the incentive to remove barriers is higher. There is always a conflict going on for national states. They want to promote free trade as everyone agrees that free trade will benefit them but they do worry about their national sovereignty. As Gilpin (Gilpin, 2001)says “ Whereas powerful market forces (trade, finance and investments) jump political boundaries and integrate societies, Governments frequently restrict and channel their economic activities to serve the interests of their own societies and powerful groups within those...
Words: 1112 - Pages: 5
...agreement earlier in the year. This lockdown lasted over five months, and then the season was cancelled. Another reason that both sides should have agreed is that NHL is a profit making business. The hockey players make the money for playing a sport that they love and the NHL is providing a service that the Americans and the Canadians love to watch. There were many barriers in reaching a negotiated agreement. These barriers delayed the progress of a negotiation and it negatively affected its chances of any type of success. The personalities of Bettman and Goodenow were adversarial tactical. There was a lack of trust between Bettman and Goodenow. There were even communication barriers as well. Bettman and Goodenow should be the ones to anticipate and overcome any barriers as they represented both sides. Goodenow and Bettman came into their positions in the early 1990’s. Both men had performed well in their current assigned roles. Both men were seen as capable, competent, and caring by their essential groups. Each man brought expert power to the negotiations. Bettman and Goodenow entered so many negotiations in the past, but the 2004-2005 year was different. They were “negotiating in the dark shadows of their shared past” (Malhotra & Hout, 2006). The union had flexed its muscles in the...
Words: 1033 - Pages: 5
