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Policy Issue in Global Economy Assignment

   

Added on  2020-07-23

10 Pages3066 Words70 Views
POLICY ISSUE INGLOBALECONOMY

Table of ContentsINTRODUCTION...........................................................................................................................1Main body........................................................................................................................................11. Description on identification of opportunities available for WTO for enhancing andextending its powers. ..................................................................................................................12. Explanation on the potential threats which can negatively affects the general function ofWTO............................................................................................................................................23. Define the first best policy of the country concerned with the purpose of restricting theexternalities involved in trade process. .....................................................................................34. Arguments in favour of trade interventions. ..........................................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7

INTRODUCTIONThe WTO stands for world trade organisation. The main function of this organisation isto deal with the negotiations and enforcement of negotiated multilateral trade rules. This ishelpful in order to have identification of relationship between the various environmentalmeasures and trade measures to promote sustainable development. The present file has coveredthe various aspects in relation to global issues. Moreover, this assignment has covered with thethings like opportunities available for enhancing its power, function of WTO, potential threats,trade interventions and many other thing in order to create the sustainable developmental. Themain aim is to facilitate the implementation in order to deal with the multilateral tradeagreements. The main object is to improve the welfare of the peoples of the member countries. Main body1. Description on identification of opportunities available for WTO for enhancing and extendingits powers. The WTO deals with the functioning of business as rules of trade between nations atglobal level. This is the kind of organization for liberalizing the trend. It is the forum forgovernment to negotiate the trade agreement in the effective mode. The agreements under theWTO are wide and complex because it is covered with the wide range of activities. They dealwith the various kind of business function such are as agriculture, textile and clothing, productsafety, food sanitation and various other kind of the things which is helpful in order to run theoperation of business effectively. This organization has been the grip of resolving the systematiccrises since 2008. The continuously increment in the number of emerging markets in the worldtrade investment are working as titling the balance of global power in the systematic manner. Inthis there are differed visions in which are rules are to be continuously modified and updated inorder to enhance the modern trade and investment policies. There are various kinds of challengesin relation to the western architects of the WTO. The power of WTO as follows-1.The decision in the WTO are made by the entire membership in order to deal with thedecision in WTO. They are working in order to make the various laws and legislations sothat they can able to run their policies in the global level.2.Instead, GATT was considered as the established ad hoc provision organisation whichwas approved by the parliament of the countries. 1

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