World Trade Organization

The Unites States is a product of globalization, backing up the idea that globalization equals Americanization. America has greatly benefited from this idea since the nation tends to be the center of globalization. American culture includes multiethnic societies and syncretic culture. America can use cultural experimentation in helping ideas flow more easily in and out of the country. Globalization therefore enhances American “soft power.” America creates many programs and ideas that other…

China, take advantages of globalization, free trade and financial flows. Millions of workers in the US are unemployed and under poverty due to the negative impact of globalization to the US. Trump has acted to tackle the problems derived from globalization. He announced policies including preventing U.S. companies from shifting jobs abroad by various means, including border taxes on companies that move jobs out of the U.S. He argues for bilateral trade agreements but also for tariffs on…

through international convergence, economic growth and development, trade investment and…

international operations that are constantly shaping the world we live in today, trying to eliminate barriers of any kind. Globalization can be regarded as a quite complex word referring to a multi-faceted phenomenon that can be quite arduous to define: Charles W.L. Hill (HILL, 2000) has attempted this task by defining globalization as “the shift toward a more integrated and interdependent world economy”. It would be hard to imagine today’s world without globalization: McDonald’s, Apple and…

“Globalization” has brought a cluster of related changes that are increasing the interconnectedness of the world. These changes are occurring in, but not limited to, economic, technological, cultural, and political realms. The effects of globalization can be summarized as increased interdependence, interconnectedness, and cultural diversity. Globalization is changing the ways we experience national identity and cultural belonging. Identity and belonging are now complicated by the increasingly…

The debate for many years has been whether or not trade agreements help American workers or cause the loss of jobs to foreign workers and lower wages. Corporations are in business to generate a profit, but at what cost to Americans and the economy? What is the ethical choice when it comes to offshoring and outsourcing jobs and how honest should a corporation be about the use of this practice? Some of the businesses that have moved jobs to foreign countries are heralded as being innovative and…

Trade Policy: Power and International Institutions In recent years the study of international relations has experienced a shift in the way that interaction at the systemic level is analyzed. This can be partially attributed to the rise in globalization, which has since led to the creation of numerous types of non-state actors and fundamental changes in the way scholars conceptualize the state. This can be tied to the liberalization of trade policies that have encouraged the development of…

2-1. FTA/EPA and the current trade In terms of the classical theory, FTA is the first step of economic integration, which is a ‘fusion of national markets’, and abolishment of tariffs and allotment of quotas among the member countries (Balassa, 1962: 2). Particularly, under perfect competition, trade liberalisation may enable economic welfare to maximise (ibid, 59). Due to open markets, reallocation of productive resources from less to more efficient countries could occur and national industries…

has risen from one of the poorest countries to the second largest supplier of textile goods in the world. The question still remains however, is it sustainable? Despite efforts by the Bangladeshi government, the industry still faces many problems with infrastructure, corruption, and capital inputs that could jeopardize their position in the international market. Background of Bangladesh’s Textile Trade In the late 1970’s, Bangladesh entered into the ready made garment (RMG) industry backed…

For over 50 years, the WTO has successfully encouraged multilateral trade liberalisation and has provided a continuous negotiating forum for this purpose (Kyle Bagwell and Robert W. Staiger, 2005). Bagwell and Staiger (2005) add that, the WTO has achieved multilateral trade liberalization through advocacy for reduced tariffs and trade barriers and multilateralised by the Most Favoured Nation (MFN) rule, which requires that each member offers to every…