International Marketing: WTO and World Bank

Docs en anglais | 6 pages | 27-06-2008 | Format : | Note : Non noté

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Résumé

If the World Trade Organisation (WTO) and the World Bank are designed to facilitate world trade, why are they subject to so much criticism and how far is the criticism justified? Illustrate your answer by reference to (geographical) areas of the world where criticism is high.

Extract:

Following the Second World War, victory countries sought about creating institutions in order to prevent economic causes of possible new wars and regulate the extraordinary increase of exchanges worldwide. From this idea three world institutions have emerged which are the World Trade Organisation (WTO), the World Bank and the International Monetary Fund (IMF). In this essay we will focus on the first two. First of all the WTO was created to replace the General Agreement on Tariffs and Trade (GATT) following the last round of negotiations of the GATT, the Uruguay Round which took place between 1986 and 1994. The WTO was borned in 1995 and today 151 countries are members. The WTO is a world organisation dealing with the global rules on trade between nations, it is a place of negotiations between members of governments about such broad and different topics as health, agriculture, patent, trade... It has three essential goals which are allowed trade without discriminations, freer trade gradually thanks to negotiations and promoting fair competition. The WTO is also a place of discussion about common issues between nations and a place where are settled trade disputes. More precisely the goal of WTO is extending the principles of free-exchange to all the sectors of society eliminating all kind of discrimination like tariffs' barriers. The World Bank is presented as a source of financial and technical assistance for the developing countries around the world. Its challenge is to decrease (...)

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