logo

Crisis In The World Trade Organisation (doc)

   

Added on  2020-03-16

16 Pages3644 Words106 Views
THE PRINCIPAL CAUSES OF CURRENT CRISS IN THE WORLD TRADEORGANISATIONStudent’s NameCourse IDDate

1EXECUTIVE SUMMARYIn this study paper, the current crisis scenario of the WTO regarding the 2017 Trade Policy Agenda of the United States of America has been elaborated. Furthermore, the principal cause of the issue has been discussed providing evidence. The study reflects how the issue can besolved to improve the existing condition and restore the positional status of the World Trade Organisation in front of its members. Meanwhile, in the latest 2017 Trade Policy Agenda, the governing body of the US Trade has clarified that any efforts by the WTO and its members restricting the trade benefits and rights of the US will be resisted. Evidently, the major threat thathas been felt from the decision of Donald Trump government is the breakout of the US government against the policies of the WTO. The current crisis of the WTO may restrict expansion of global trade and lead to a trade war situation in the US economy. Therefore, a number of negotiating terms must be defined to tackle the situation.

2Table of ContentsINTRODUCTION...........................................................................................................................3ANALYSIS......................................................................................................................................4CURRENT SUCCESS OF THE WORLD TRADE ORGANISATION.....................................4CURRENT CRISIS IN THE WTO.............................................................................................5PRINCIPLE CAUSE OF THE CURRENT CRISIS IN THE WTO...........................................6IMPACT OF THE CURRENT CRISIS.......................................................................................8SOLUTION TO THE PROBLEM................................................................................................10CONCLUSION..............................................................................................................................11Bibliography..................................................................................................................................13

3INTRODUCTIONThe World Trade Organisation (WTO) can be identified as an intergovernmental organisation that plays a major role in the trade settlement of nations regulating trade set up for manufactured goods and services at the international level. In 1995, the WTO came as a replacement of General Agreement on Tariffs and Trade (GATT) as the global trading organisation of the world (Banks 2016). Precisely, the central principle of the WTO is to make trade-related dispute settlement following a mechanism governed by regulations and legislation. According to the agreement with the WTO and the members, trade disputes are settled following multilateral system instead of unilateral action (Eglin 2015). In this particular study, a current crisis of the WTO has been identified. In the meanwhile, the 2017 Trade Policy Agenda of the United States of America has contributed towards a crisis situation for the WTO. As per the latest Trade Policy Agenda of the US, the trade policy to be delivered for the future will resist any efforts of the WTO or its members that will weaken the trade rights of the US. Evidently, such stance of the US can be termed as a crisis for the international trade governing organisation such as the WTO limiting the administrative rights and power of the international body. In this study paper, the current crisis scenario of the WTO on this particular issue has been elaborated. Furthermore, the principal cause of the issue has been discussed providing evidence. In addition, the essay paper has demonstrated the impact of the crisis on the WTO’s trade frameworks and operational activities (Dajud 2016). Moreover, the study has identified how the issue can be solved to improve the existing condition and restore the positional status of the World Trade Organisation in front of its members (Limenta 2012).

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Crisis in wto goods dispute settlement
|10
|2051
|9

Report on International Political Economy
|16
|3445
|78

Report | World Trade Organization
|7
|2063
|78

Introducing International Political Economy
|10
|2957
|285

World Trade Organization Information 2022
|14
|3260
|31

Business Law Discussions 2022
|14
|3062
|26