Global Organization Analysis

1582 words - 7 pages

Global trade integration among countries is often facilitated by both international and regional institutions. These institutions can focus on global trading systems or financial and monetary systems. Such institutions can help to solve problems including economic development, intellectual property, environmental protection, unfair practices, and dispute settlement (Luo, et al, 2004). The goals of these institutions are to help raise living standards in member countries, encourage wealthier nations to remove trade policies and barriers that are unfair, and to commit the countries to open their markets further to developing nations. This paper will focus on the role of the World Trade ...view middle of the document...

The role of the organization is to oversee international trade of goods and services. Their primary function is to "ensure that trade flows as smoothly, predictably and freely as possible (WTO, 2008)." A crucial goal is to regulate tariffs on agriculture and manufactured goods. They also have several principles critical to effective trade among countries such as trading without discrimination, removal of trade barriers through negotiations, discouraging unfair trade practices, and providing more benefits for less developed countries (WTO, 2008).Another important role of the WTO is settlement of disputes. If countries suspect that unfair trade practices are being carried out by another country, they may bring forth these charges of unfair trade practices to a WTO panel. The country being implicated in the accusation may appeal the charge. The WTO panel will conduct deliberations, and the WTO's rulings are final and binding. If the offending country does not comply with the panel's ruling, its trading partners have the right to compensation. If the imposed penalty is not effective, then the trading partners of the offending country have the right to impose countervailing sanctions (Daniels, et al, 2007).Example of WTO's Involvement in Promoting International TradeThe WTO is involved in trade agreements and discussions among its member countries. They proactively work to facilitate freer trade in the international market by means of the agreements established with trading partner countries. While the trade agreements are necessary and provide the agreed-upon terms of trade activity, there will be instances where one country may have concerns another country is not adhering to the established agreement. The WTO promotes trade both by establishing the trade agreements and resolving trade disputes as they arise. If the member countries are not following the terms of their trade agreements their actions will impact and potentially impede trade activity and other relations among the countries. If a country can verify or has strong suspicions that a trading-partner country is not following the terms of the agreement, they can file a dispute with the WTO.An example of such a dispute has occurred between the U.S. and China. The U.S., as well as the European Union (EU), contends that China is maintaining a tax system to block imports of foreign-made auto parts (Crustinger, 2007). China's actions are in violation of WTO rules and agreements. The WTO examined the complaint by the U.S. and the EU on allegations that China was maintaining an illegal tax system that blocked imports of foreign-made auto parts into China. The WTO recently ruled on its findings of the dispute. They backed the claims of the U.S. and EU that China did have a system to raise tariffs on auto parts that were imported in excess of certain thresholds. Those actions discriminate "against foreign automakers assembling cars in China and runs counter to WTO rules (China, 2008)." In turn, this...

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