The World Trade Organization (WTO), formely known as General Agreement on Trades and Tariffs (GATT) is positive towards the world, by regulating trade practices.The WTO also promote Economic Globalization which affects every person of the world. Economic globalization is a form of trade liberalization, and is import to us because without it we wouldnt have half the products in our country today. Without trade these product around us would not be here, but with tradde comes issues, such as wars, which can lead to a country refusing to trade with another country. That's where the WTO comes in, they settle all disputes on trade issues. Okay sure, they always vote free trade, but is that a bad thing? People need trade, countries need trade. Even with the WTO there are still issues behind creating ultimate free trade, Tariffs and subsidies. Tariffs, are a tax charged on an imported good to make it of equal price to domestic goods. So the consumers would be more willing to buy the domestic goods. Subsidies are a government grant given to domestic businesses to help lower price of production, to make the domestic goods less expensive. This counteracts trade liberalization, or free trade, and counters the WTO polocies. The goal of the WTO is to remove tariffs and subsidies and to increase free trade. Some may think of this as a bad thing, because it decreases domestic trade, but in the eyes of the WTO it increases these countries to trade their goods elsewhere. These decisions are made by the 153 countries of the WTO. Each contry has a representative, who votes on behalf of their country. Of course there is many who vote for , and many who vote against each decision. For example, in case study number 4, 'AIDS drugs denied to HIV-Infected in Thailand and South Africa', Thailand is denied the ability to provide drugs for a cheaper price than USA can provide, because it eliminates the trade. The WTO voted Thailand not be allowed, and people got mad. However, they need to think about what happens if the WTO did vote against trade... The WTO was created to protect free trade not vote against it.. Why make something for a certain purpose if you are just going to change that purpose later on? -Baylee :)
The World Trade Organization (WTO), formely known as General Agreement on Trades and Tariffs (GATT) is positive towards the world, by regulating trade practices.The WTO also promote Economic Globalization which affects every person of the world. Economic globalization is a form of trade liberalization, and is import to us because without it we wouldnt have half the products in our country today. Without trade these product around us would not be here, but with tradde comes issues, such as wars, which can lead to a country refusing to trade with another country. That's where the WTO comes in, they settle all disputes on trade issues. Okay sure, they always vote free trade, but is that a bad thing? People need trade, countries need trade. Even with the WTO there are still issues behind creating ultimate free trade, Tariffs and subsidies. Tariffs, are a tax charged on an imported good to make it of equal price to domestic goods. So the consumers would be more willing to buy the domestic goods. Subsidies are a government grant given to domestic businesses to help lower price of production, to make the domestic goods less expensive. This counteracts trade liberalization, or free trade, and counters the WTO polocies. The goal of the WTO is to remove tariffs and subsidies and to increase free trade. Some may think of this as a bad thing, because it decreases domestic trade, but in the eyes of the WTO it increases these countries to trade their goods elsewhere. These decisions are made by the 153 countries of the WTO. Each contry has a representative, who votes on behalf of their country. Of course there is many who vote for , and many who vote against each decision. For example, in case study number 4, 'AIDS drugs denied to HIV-Infected in Thailand and South Africa', Thailand is denied the ability to provide drugs for a cheaper price than USA can provide, because it eliminates the trade. The WTO voted Thailand not be allowed, and people got mad. However, they need to think about what happens if the WTO did vote against trade... The WTO was created to protect free trade not vote against it.. Why make something for a certain purpose if you are just going to change that purpose later on?
ReplyDelete-Baylee :)