StudentShare solutions
Triangle menu

World Trade Organization - Essay Example

Nobody downloaded yet
This initial position by developed countries soon came under pressure from other members (especially developing countries). More recently WTO has focused upon the need to sustain an open multilateral trading framework, particularly in the light of the proliferation of regional blocs. In spite of some weaknesses and limitations of its strategies, WTO has benefited the economic growth of developing countries and involves them in free trade relations and international trade. The main question worried many nations and economists "Does WTO really promote free trade or just control the international trading relations and economic order
The WTO was established on 1st January 1995 by the Marrakesh agreement. It was a new agreement between the global nations which improved and extended articles of GATT established in 1947. .WTO differs from GATT as it is based on different principles and policies of trade relations. GATT is just a set of rules while WTO is an international institution with governing bodies. In contrast to GATT, WTO commitments are full. GATT rules and principles of trade cover only retail trade while WTO regulates services and intellectual property industries. The main difference is that WTO is based on multilateral agreements applied to all members of the institution while GATT involved selective agreements applied to some local economies. The befit of WTO is that it is undeniable that trade policy leaders have their own bases of support, such as interest groups and the bureaucratic institutions they direct. As they depend on those bases to maintain their current position, policy makers' interests, priorities and responsibilities in policy making are put by their support bases. In fact, the state-oriented approach underlines the importance of the demands of society on trade policy making.
In contrast to GATT, WTO has stricter system of trade control and does not permit trade violations. Trade violations involve such impotent issues as labor relations and environmental concerns. These rules and principles can be seen as a response to dissatisfaction with the explanatory power of international trade relations that concentrate on international factors or assume country interests to be external. Such attempts are grouped by WTO into four, based on their characterization of the international and the domestic, and the lines of responsibility they draw between these political issues. WTO has a set of laws aimed to restrict activity of those companies which violate accepted rules and norms of international trade. The domestic and international relations each possess different and distinct features and limitations on country action; thus domestic goals are more effectively pursued with international trade strategies.
WTO is important to international business because and the internationalization process of a business organization as it controls and stipulates international relations and policies. Trade policy is based on complex principles and issues determined by national economic environment and international laws. The two principles issues of trade policy are the debate over ...Show more
Cite this document
  • APA
  • MLA
(“World Trade Organization Essay Example | Topics and Well Written Essays - 2250 words”, n.d.)
Retrieved from
(World Trade Organization Essay Example | Topics and Well Written Essays - 2250 Words)
“World Trade Organization Essay Example | Topics and Well Written Essays - 2250 Words”, n.d.
  • Cited: 0 times


World Trade Organization (WTO) has a profound impact on trade relations and cooperation between states on the global level. For the most part, WTO has played a greater role in economic forums than security or political ones, and in particular has promoted the free trade process…
World Trade Organization Essay
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"World Trade Organization Essay"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

World trade Organization
World trade Organization Introduction The world trade organization (W.T.O) is an international organization, which deals with rules and issues of trade between nations. Since its formation, the world trade organization has initiated trade agreements. These agreements entail negotiations with the world’s trading nations, which pass agreements in parliaments.
9 pages (2250 words) Essay
World Trade Organization
World Trade Organization.The World Trade Organization is one of the relatively younger world organizations that exist to help regulate the international business community. Formally created on January 1, 1995 based upon the dictates of the Marakesh Agreement, the organization replaced the then existing General Agreements on Tariffs and Trade which was created in 1948.
2 pages (500 words) Essay
World Trade Organization Information
The World Trade Organization was created with a goal and ultimate objective set in mind. Its ultimate goal is to improve the welfare of peoples in the member countries. The purpose is to aid trade flow efficiently, lawfully as well as predictably. It has nearly One hundred and fifty one member states, which account for 97% of world trade (Ben-David p15).
10 pages (2500 words) Essay
World Trade Organization
Multilateral trade negotiation is a term that has been generally used to describe the eight multilateral rounds of negotiations that are consistently held under the patronage of the General Agreement on Tariffs and Trade (GATT). According to Capdevila (2008), GATT, which later brought the World Trade Organization (WTO) was a multilateral treaty established with the express intention of helping to reduce the trade barriers that existed between member countries.
10 pages (2500 words) Essay
China and the World Trade Organization
This need finally paved the way for the formation of World Trade organization. The present essay is intended to analyze the formation and functions of WTO and to scrutinize the effect of this organization on the trade and economy of China. The World Trade Organization came to existence on January 1st 1995 as a result of Uruguay Round of Multilateral Trade Negotiations (1986-1994).
3 pages (750 words) Essay
World Trade Organization College Essay
However, Rose (2004a, 2004b) surprisingly shows that there is no strong empirical evidence that the GATT/WTO has systematically played a strong role in stimulating trade. In contrast, Subramanian and Wei (2007) and Balding (2008) find robust evidence that the GATT/WTO has had the strong positive impact on international trade.
6 pages (1500 words) Essay
World Trade Organization Master Essay
This thesis analyzes and explains how the develop countries have more power in World Trade Organization's Dispute Settlement Mechanism and are influencing the developing countries. The WTO Dispute Settlement Mechanism should secure the 'rule of law' within international trade and provide all members with opportunities to exercise their rights equally under multilateral trade agreements.
11 pages (2750 words) Essay
World Trade Organization Today
This paper provides an understanding of the WTO (World Trade Organization) system and its implications to government policies and international business. The issues examined include scope and definition of investment, transparency, non-discrimination, settlement of disputes and balance of payment safeguard.
5 pages (1250 words) Essay
World Trade Organization
Having said that, we need to understand that globalization is not just a phenomenon, it is the science of human evolution and since man has for long held fast to this belief, there can be no reason as to
7 pages (1750 words) Essay
The World Trade Organization
Doha development agenda were launched in 2001 and expected to be completed in 2005. However, this was not realized despite efforts to gather urgent dignitaries (Jones, 2010). Although the G20 endorsed the goal of concluding the talks in
1 pages (250 words) Essay
Comments (0)
Click to create a comment
Let us find you another Essay on topic World Trade Organization Essay for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us