Why was it is necessary to replace GATT 1947 what are the main Essay

Why was it is necessary to replace GATT 1947 what are the main differences between GATT 1947 and the WTO Do you think that the - Essay Example .................................................................... 5 Interim Commission for the International Trade Organisation (1947-1994).......5 Review Session (1950s)....................................................................................... 6 European Economic Community (EEC) (1957).................................................. 6 Multifibre Arrangements (MFA-I through MFA-IV).......................................... 6 The Uruguay Round (1993-1994)....................................................................... 8 Multilateral Investment Agreement (MIA) (1996)............................................... 9 U.S. Corporate Average Fuel Economy .............................................................. 9 Dispute Settlement Body (DSB)............................................................................10 WTO’s Articles III and IV.....................................................................................10 Converting GATT 1947 to WTO Introduction The GATT was formed by states with a decisive idea of the co-operation that was required to promote economic development and modernisation. Even though the idea required an International Trade Organisation (ITO), the GATT was also able to achieve the goals of the original participants.1 It was, to a certain extent, efficient trade-liberalising machinery. The removal of QRs by developed nations in the aftermath of World War II was confined under its control, and excise taxes were cut down considerably.2 Barriers to trade, as of the 1970s, in the form of quotas and tariffs had weakened radically in value3, and governments were beset by the trade-misleading features of other economic strategies. The first five decades of GATT’s existence has a close resemblance to a product’s lifecycle. In the beginning market growth is sluggish, as the public become used to it. This is pursued by a phase of drastic improvement of market productivity and share as the pro duct launches.4 In the developed or third phase, growth stabilises but profits remain elevated. In the last stage profits start to drop. Core marketing theory informs us that by the third phase a company had to create a new product in order to thrive and survive.5 In the case of GATT, the stages of take off and maturity took place in the 1950s and the 1960s.6 This was the time when the greatest development was accomplished in terms of trade liberalisation. The demand for the products of GATT had stabilised by the 1970s.7 An effort was made to branch out into new markets by moving to non-tariff barriers (NTB), but this move was not quite productive. Indecisive strategies were implemented to deal with trade-related national regulations, but development was sluggish.8 The GATT-1947, with the formation of the World Trade Organisation (WTO), was converted into an organisation, and its expanse was considerably enlarged.9 Hence, the important issues to be addressed here are: (1) why was it necessary to replace GATT 1947? (2) What are the main differences between GATT 1947 and the WTO? (3) Is WTO an improvement, if so, why? In addressing these issues it is helpful to analyse briefly several of the major developments that took place in the world economy in the twentieth century. From GATT 1947 to WTO GATT was not officially a global organisation, specifically, an official unit in its own right. GATT is an inter-governmental agreement. Hence, GATT had contracting participants rather than member states.10 This transformed with the formation of an international organisation that governs multilateral contracts concerning trade in goods, trade-related aspects of intellectual property rights (TRIPs), and trade in services (GATS): the WTO.11 The different treaties governed by the WTO are between customs territories

Discuss the major problems a firm might face in attempting to Essay

Discuss the major problems a firm might face in attempting to standardize advertising among different countries. How might product branding be affected - Essay Example Different countries have different languages they use in communication as their national languages in their countries. For instance, most of the countries now are majorly using English as their business language. There are many more countries that use different languages like French, Chinese, German language to mention only but a few. This means that for the marketing manager to think of standardizing the advertising internationally, he has to first think of how the message will reach the audience or target market. Communication language is usually an issue when it comes to the international business. The language has to be translated into the national language of the countries among which the advertising has to be standardized. It is therefore very expensive to translate the adverts into the foreign language before it is advertised. Besides, the advertisement manager finds it very hard to effectively supervise international business because he may not understand the language at a gl ance. It is more convenient to standardize advertisement among countries with same language speaking citizens than those countries that vary in the language speaking. Communication media has remained a question unanswered when it comes to international advertising, especially international standardization of advertising. This is due to a number of issues that follows. First there is a question of whether the advertisement media is available in the foreign countries or not. The standardization of international advertising to work there must be availability of the advertisement media among all the countries into which the advertising is to be practiced. For example some third world countries have limited access to the internet because of poverty while others like United States of America have computer technology advantage. It means then that for the standardization of the advertising among countries to prosper the communication media should not only be available

Child Soldier Research Paper Example | Topics and Well Written Essays - 1000 words - 1

Child Soldier - Research Paper Example This research paper focuses on the issue of children that are used as soldiers in specific nations around the world to fight in war or other armed conflicts. The recruitment and employment of child soldiers has been condemned universally as unacceptable and abhorrent. But the number of child soldiers who have fought and died in war and conflict around the world are hundreds of thousands even in the last ten years. The researcher aims to reach out to international community and humanitarian international agencies, that together with the various legal departments must take up measures to curb the recruitment of child soldiers and set up organizations to rehabilitate children who are victims of this evil while all the adults involved in the recruitment process must be brought to justice with severe punishments to deter others from involving in such acts in the future. The researcher sums up that child soldier is a curse to the society and must be abolished from all nations around the wo rld because it is not only harmful to the children but also to the society as a whole because the opportunities lost by a child for schooling can reduce the human and economic development of a society. To conclude, the researcher hopes that the role of a child as a child soldier would disappear eventually. But mentiones that today it is only increases the opportunity for future cycles of war and poses a danger to peace and can inadvertently cause threat to democracy which is associated to social and human well being.