Decade of China’s membership to WTO – revision of hopes and expectations 1. WTO uprising The World Trade Organization (WTO) was commenced on 1st January 1995 replacing the General Agreement on Tariffs and Trade (GATT). Firstly‚ we have to go back to year 1994 when John Maynard Keynes during Bretton Wood conference had presented his statement about restructuring international finance and currency relations. Both Keynes and Harry White (American mister of state in U.S. treasury) believed
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Research Paper Key Women’s Issues: Pregnancy Discrimination‚ Pay Equity‚ and the Glass Ceiling Alfreda Grinder‚ BS HRMG 5000 Managing Human Resources Fall I Instructor: Mr. Tony Denkins October 5‚ 2010 Since the days of Roe v. Wade‚ women in the United States have made great gains in many ways in society. Two consecutive presidential administrations women have serviced as Secretary of State‚ Hillary Rodham Clinton and Condoles Rice. We
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HISTORY 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.) It did not take long for the General Agreement to give birth to an unofficial‚ de facto international organization‚ also known informally as GATT. Over the years GATT evolved through
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JOIN GAAT/WTO? • Significant long-term and structural benefits.(1989 sanctions) • Desire to be an important player on the world stage. 1. 2. Influence in policy making Decisions might affect its vital interests without its input. • External disciplining mechanism to improve efficiency of its industries. • WTO entry will bring a number of specific economic benefits to China. 1. 2. Improve market access for Chinese goods to major markets. To increase FDI. TERMS CHINA AGREED TO IN ITS WTO NEGOTIATIONS
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Merits of the WTO According to the WTO agreements‚ one of the most important reasons for having the system is that it’s a forum for countries to thrash out their differences on trade issues. In the agreement lie many over-riding reasons why it’s better off with the system in place. These are the ten distinct advantages according to the WTO; the system helps promote peace‚ disputes are handled constructively‚ rules make life easier for all‚ freer trade cuts the costs of living‚ it provides more choice
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As it is known the WTO agreements is very huge in and documents full of complexity which cover range of activities such as banking‚ government procurement‚ agriculture‚ and etc. Therefore there are five clear principles that go into all documents‚ and they are considered as the basis of multilateral trading system (WTO‚ n.d.). These principles are briefly introduced bellow: Non-discrimination trading The first principle to introduce is trading without discrimination‚ having two important components
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1 Introduction 1.1 Key issues in food labelling D. Jukes‚ University of Reading The development of issues in food labelling has arisen only recently and is linked to the increasing sale of food in prepackaged form. In most industrialised economies‚ the food manufacturing industry is highly developed and sophisticated. Food is harvested and passes along a tightly controlled food chain ultimately reaching the consumer. The need for consistent high quality safe food has led the industry to
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[2-4] a. Background……………………………………………………………………………. 2 b. Executive Summary……………………………………………………………….. 3 c. Acknowledgement …………………………………………………………………. 4 II. World Trade Organization (WTO) [5-6] a. Introduction…………………………………………………………………………..5 b. Functions……………………………………………………………………………….5 c. Members……………………………………………………………………………….6 III. Regional Economic
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The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly‚ predictably and freely as possible Pros: 1)Promotes free-er trade. 2)Raises world out-put levels via specialisation (related to point 1). 3)Establishes a standard rule by law and terms of trade for greater effeciency. 4)Updates all participating countries and banks to international standards and effeciency in terms of trade and commerce.
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decided to set up a permanent institution for looking after the promotion of free and fair trade amongst nations. Consequence to this decision‚ the GATT was transformed into World Trade Organisation (WTO) with effect from 1st Jan 1995. The Head Quarters of WTO is situated in Geneva‚ Switzerland. WTO is a powerful successor of GATT and a permanent organisation created by an international Treaty ratified by Government of member states which governs trade not only in goods but also in services and intellectual
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