...The University of Nottingham, Ningbo, China Division of International Business China and the World Trade Organization P13608 Module Outline Module Convenor: Dr Chieh Huang AB Room 379 chieh.huang@nottingham.edu.cn Office hours: Monday 10:30-12:30 10 credits TB329 Tuesday 2-4 PM 10 weekly two-hour lecture/seminars The course is taught by way of lecture/seminars which are two hours in length. The form of the lecture/seminars will be flexible, depending on the topic under consideration. Students are expected to participate fully in discussions in lecture/seminars and to have read all the set Essential Reading before class. Credits: Lecture Venue and Times Method of Delivery & Frequency on Class: Method and Criteria of Assessment: 100% Coursework (5000 words) Essay Submission Deadline is 4pm, Wednesday 27 November 2013 Topics: Please choose one area listed below and discuss its recent development in the context of China. You will need to narrow down your focus and set your own essay topic. 1. 2. 3. 4. 5. Non-market Economies in the WTO Energy Industry and the WTO Environment and the WTO Commentary on one WTO case involving China Self-selected topic upon approval (You are most welcome to decide a topic yourself. Once you decide to do so, however, you need to submit your topic and an one-paragraph abstract before 4pm 31 October. ) Module Aims: To give the students a broad knowledge of the multilateral trading system and China’s interaction with that system through...
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...a little give and take Historical Overview of the WTO The World Trade Organization (WTO) was founded in 1995 as the predecessor to the General Agreements on Tariffs and Trade (GATT). The GATT was developed in 1947 on a provisional base after World War 2; it was not started as an international organization, but rather an inter-governmental treaty. Instead of being made up of participating members, such as the WTO, the GATT consisted of contracting parties. As stated in the preamble of the GATT-1947, the objectives of the contracting parties include ‘raising standards of living, ensuring full employment and a large and steadily growing volume of real income and effective demand ,developing the full use of the resources of the world and expanding the production and exchange of goods’(GATT, 1994a: 486). It continues by stating that reciprocal and mutually advantageous arrangements involving a substantial reduction of tariffs and other barriers to trade as well as the elimination of discriminatory treatment in international trade will contribute to the realization of these objectives. So in short the role of the GATT, was (and still is) to facilitate the reduction of barriers of trade and ensure greater equality with respect to conditions of market access for contracting parties. Through the negotiations made by the original 23 countries of the GATT, with additions of over 50 countries, came the charter for the International Trade Organization (ITO). The ITO was to be a new...
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...PART A ➢ GENERAL AGREEMENT ON TARIFFS AND TRADE The General Agreement on Tariffs and Trade (GATT), multilateral treaty between governments, was signed in 1947 and came into force on 1st January 1948. Objectives: The primary of GATT is to expand international trade by liberalizing trade so as to bring about all around economic prosperity. The Preamble to the GATT mentions the following as its important objectives: 1. Raising standard of living. 2. Ensuring full employment and a large and steadily growing volume of real income and effective demand. 3. Developing full use of resources of the world. 4. Expansion of production and international trade. For the realization of its objectives, GATT has adopted the following principles: 1. Non-discrimination: the principle of non-discrimination requires that no member country shall discriminate between the members of GATT in the conduct of international trade. To ensure non-discrimination the members of GATT agree to apply the principle of the most favoured nation (MFN) to all import and export duties. This means that each mission shall be treated as well as the most favoured nation. As far as quantitative restrictions are permitted they too are to be administered without favor. However certain expectations to this principle are allowed for instance GATT, does not prohibit economic integration such as free trade areas or customs union, provided the purpose of such integration...
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...and General Agreement on Tariffs and Trade The World Trade Organization (WTO) is the organization that discusses, negotiates and puts in place rules and regulations for trade between countries. The WTO maintains trade barriers and prevents the spread of disease and protects the environment (Understanding the WTO. 2011). The WTO is a forum where problems with traded go to be negotiated and sorted out by government officials. The General Agreement on Tariffs and Trade (GATT) is a set of multilateral trade agreements which works to abolish quotas, reduce tariff or taxes and trade without discrimination (Britannica.com 2016) The Evolution of WTO and Its Current Role Unlike GATT WTO is an organization that is equally represented by the countries that take part. According to Cateor, Gilly,& Graham 2013 the WTO has been the forum for successful negotiations between it’s members to open markets in telecommunications and information technology. WTO works with GATT to help settle trade disputes and gives members a guild line to follow when trading with other countries.There are currently 162 countries involved in the WTO (Wto.org 2016). The Evolution of GATT Through the GATT many countries have opened up their borders to trade, it has also helped reduce the tariff on goods sold in other countries (Cateor, Gilly,& Graham 2013). Over the years, the GATT has worked hard to open borders and allow business to trade freely with other countries without discrimination or absurd taxes...
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...INTERNATIONAL BUSINESS MANAGEMENT LESSON 9: WORLD TRADE ORGANIZATION What is the World Trade Organization? Born in 1995, but not so Young Simply put: the World Trade Organization (WTO) deals with the rules of trade between nations at a global or near-global level. But there is more to it than that. 1.The WTO began life on 1 January 1995, but its trading system is half a century older. Since 1948, the General Agreement on Tariffs and Trade (GATT) had provided the rules for the system. (The second WTO ministerial meeting, held in Geneva in May 1998, included a celebration of the 50th anniversary of the system. Is it a bird, is it a plane? There are a number of ways of Looking at the WTO. It’s an organization for liberalizing trade. It’s a forum for governments to negotiate trade agreements. It’s a place for them to settle trade disputes. It operates a system of trade rules. (But it’s not Superman, just in case anyone thought it could solve- or causeall the world’s problems!) Above all, it’s a negotiating forum … Essentially, the WTO is a place where member governments go, to try to sort out the trade problems they face with each other. The first step is to talk. 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...
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...Introduction The World Trade Organization (WTO) was established January 1, 1995. Before WTO’s inception it was known as the General Agreement on Tariffs and Trade (GATT). However, GATT was not treaty, therefore “the provisions of GATT were binding only insofar as they are not inconsistent with a nation’s existing legislation” (Aaronson, n.d.). Many proponents of labor sometimes consider the WTO a very controversial organization. Many labor advocates feel that free trade has a negative impact on employment and the economy here in the United States. According the WTO website, “The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. Mission and Goal The mission of the WTO is to help producers of goods and services, exporters, and importers conduct their business. What does all that really mean in plain English, the main function of the WTO is to ensure that trade flows as smoothly, predictably and freely as possible. Structure and Architecture The WTO is comprised of several different councils and committees that make up its structure. Here are a list of the councils, and committees along with some of the responsibilities of each unit. The descriptions below are courtesy of 3.1 Structure of the World Trade Organization, Handbook. * The Ministerial Conference...
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...World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986–1994). The organization is currently endeavoring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population. However, the negotiation has been dogged by "disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a 'special safeguard measure' to protect farmers from surges in imports. At this time, the future of the Doha Round is uncertain." The WTO has 153 members representing more than 97% of total world trade and 30 observers, most seeking membership. The WTO is governed by a ministerial...
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...Lecture 5 - World Trade Organisation What is the WTO? The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business. 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...
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...World Trade Organization (WTO) is an international body whose purpose is to promote free trade by persuading countries to abolish import tariffs and other barriers. As such, it has become closely associated with globalization. The WTO is the only international agency overseeing the rules of international trade. It polices free trade agreements, settles trade disputes between governments, and organizes trade negotiations. WTO decisions are absolute and every member must abide by its rulings. So, when the US and the European Union are in dispute over goods, it is the WTO, which acts as judge and jury. WTO members are empowered by the organization to enforce its decisions by imposing trade sanctions against countries that have breached the rules. Based in Geneva, the WTO was set up in 1995, replacing another international organization known as the General Agreement on Tariffs and Trade (Gatt). Gatt was formed in 1948 when 23 countries signed an agreement to reduce customs tariffs. The WTO has a much broader opportunity than Gatt. Whereas Gatt regulated trade in merchandise goods, the WTO also covers trade in services, such as telecommunications and banking, and other issues such as intellectual property rights. Membership of the WTO now stands at 153 countries (as at July 2008). China formally joined the body in December 2001 after a 15-year battle. Russia wants admission, but must first convince the EU and US that it has reformed business practices. (Daniels, 2011) ...
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... Summer 2008 Term Paper – World Trade Organization (WTO) TABLE OF CONTENTS 1.0 INTRODUCTION 4 1.1 What is WTO? 1.2 History of WTO 1.3 Mission 1.4 The Structure of WTO 2.0 WTO SYSTEMS 11 3.0 CONITIONS FOR MEMBERSHIP 17 4.0 OBJECTIVES OF WTO 24 5.0 WTO DISPUTE RESOLUTION SYSTEM 27 5.1 Governing Principles 5.2 Stages Of Dispute Resolution 6.0 SUCCESS AND FAILURES OF WTO 29 7.0 WTO AND 3RD WORLD RELATED ISSUES 35 7.1 Who are the Least Developed Countries? 7.2 Who Are the Developing Countries? 7.3 Issues Relating to 3rd World Countries 7.4 Action Plan for the Least Developed Countries 8.0 CHALLENGES FACED BY WTO 42 8.1 Overloading the WTO 8.2 Decision Making 8.3 The role of overlapping unimplemented commitments from the Uruguay Round with new issues from the Doha Round 8.4 Regionalism 8.5 Eroding national sovereignty 8.6 Asymmetry between goods and service liberalization 8.7 Protecting intellectual property 8.8 Asymmetry between public and private trade restrictive Measures 8.9 Shooting at a moving target: Protectionism in disguise 8.10 Doha Development Agenda 8.11 A Healthy WTO 8.12 Timeliness and Politics 8.13 The Alternative to the Doha Round 8. 14 Next Steps for the WTO 9.0 OVERCOMING THE CHALLENGES 58 10.0 CONCLUSION 59 11.0 REFERENCES...
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...ORGANIZATION: INTRODUCTION: * WORLD TRADE ORGANIZATION (WTO) is an organization which was established with the motive of negotiations between the countries regarding trade problems. * WORLD TRADE ORGANIZTION was established on 1st January 1995 after the failed attempt made in 1948 to make INTERNATIONAL TRADE ORGANIZATION. * It is considered as the biggest reform of international trade. * From 1948, GENERAL AGREEMENT OF TARIFF AND TRADE (GATT) WTO has taken the rules for its system. * GENERAL AGREEMENT led to establishment of an unofficial international organization also known as GATT. * GATT changed through many rounds of negotiations, but the biggest round was Uruguay Round which almost lasted eight years from 1986-1994. * Which led to the formation of WORLD TRADE ORGANIZATION (WTO). * When GATT is concerned it only used to look after the trade in goods, but WTO looks after trade in services and in traded invention, creations and designs. * WTO is located in GENEVA, SWITZERLAND. * The membership of WTO is 160 countries till 26th June 2014. * The secretarial staff of WTO is 640. * The current Director- General of WTO is Roberto Azevedo. * When it comes to India, India is the member of WTO from 1st January 1995, and member of the GATT since 8th July 1948. FUNCTIONS OF WTO: * The main function of WTO is to ensure that the trade in all countries is smooth. * WTO also looks after the administering of all agreements which...
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...The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. It is the only international organization dealing with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. The World Trade Organization came into being in 1995. One of the youngest of the international organizations, the WTO is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War. The WTO is run by its member governments. All major decisions are made by the membership as a whole, either by ministers (who usually meet at least once every two years) or by their ambassadors or delegates (who meet regularly in Geneva). Virtually all decisions in the WTO are taken by consensus among all member countries and they are ratified by members' parliaments. Trade friction is channelled into the WTO's dispute settlement process where the focus is on interpreting agreements and commitments, and how to ensure that countries' trade policies conform with them. That way, the risk of disputes spilling over into political or military conflict is reduced. By lowering trade barriers, the WTO’s system also breaks down other barriers between peoples and nations. At the heart of the system — known as the multilateral trading system — are the WTO’s agreements, negotiated and signed by a large majority of the world’s trading nations, and...
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...provided in the United States, as well as those around the world. It is both mind boggling and perplexing the number of goods traded on a daily basis. With this major amount of trading there are both advantages and disadvantages. Let’s look at some of these advantages and disadvantages of trading internationally as well as some issues that arise due to international trade, the role of the government in the trading process, and the role of the World Trade Organization (WTO). An advantage of international trade is that it allows for the enhancement of domestic competitiveness. This allows an organization to get offers from other countries in the future which gives them the variety to choose from in the long term. Another advantage to trading internationally is that an organization can reduce their dependence on existing markets. If a market is low on a substance that is needed, then the organization can trade for it internationally with a country with a plentiful supply of what you need. Also, international trading will extend the sales potential of existing products. The more exposure that the product gets in international markets, the more profits a company sets to gain, thus creating better sales opportunities in the long run for the company doing the trading. With these advantages, there comes some disadvantages. One disadvantage is the need to hire a work force to oversee all of the trading. Depending on what the company wants to trade, this may be costly in the long...
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...trade body, many country look toward as business reformation point of view. It made a rules and regulation for the global trade. It solve a trade relate dispute on international level, aim of the organization is to promote and give a platform to a developing country to show their product standard and access a international market. It has a separate guidance and principal to deal with a business problem and control the trade barriers. It is made a policy for accelerate a trade and build a bridge for developing country to reach toward develop nation. It provides a liberal agreement with member country for co-operative support to developing country. Indian agriculture it is feature in itself,...
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...Steven Wallace Final Research Paper on General Agreement on Tariffs and Trade (GATT) Int 610 Professor S. Dalpour Abstract The history of global trade shows that free, fair, and open trade is not necessarily the norm. If allowed, larger nations would monopolize trade to their advantage and destroy open competition. The purpose of this paper is to review the history of trade to find out the reasoning behind establish a General Agreement on Tariffs and Trade (GATT). To meet this goal, this student will quickly review world history concerning trade, the introduction of GATT, its successes and weaknesses, and the emergence of the World Trade Organization (WTO) as a successor to GATT. From this literary review, I will cite three current examples – within the last decade – on how recent tariffs and trade barriers still affect the United States of America: * 2002 - US Steel tariff * 2007 - Paper tariff on Chinese Paper * 2009 - Violation of North American Free Trade Agreement with Mexico and its effect on US trade Finally, I will give me opinion on whether or not I believe the WTO/GATT is still relevant for 2012 and beyond. Why Was There A Need For A General Agreement on Trade and Tariffs? The history of trade – and protectionism of the trade of goods – is record all the way back to the Roman Empire. Trade at that time was characterized by Roman control over roads and on ships throughout the Mediterranean region. If you wanted to move...
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