Ashlynn Wright

DB #2 WTO

November 14, 2015

1. Key Term and why you are interested in it.

The key term I chose for this discussion was the World Trade
Organization (WTO). The trading of goods and services and funding
across international borders is done with the help of the World Trade
Organization (WTO). This term caught my interest because while doing
my first discussion about globalization WTO was established. With the
WTO governments in other nations are able to come together and
solve trade issues amongst each other. WTO now negotiates under the
Doha Development Agenda which was established in 2001. WTO
came into existence because of globalization. Globalization is the
process of international trade between nations.

2. Explanation of the key term.

The World Trade Organization (WTO) formerly known as the
General Agreement on Tariffs and Trade (GATT) was established in
1995. WTO agreements consist of property and trade in goods and
services. Members of WTO agree upon trade barriers and the freedom
of trade throughout the nations. Being that WTO is on a national level
they practice the golden rule. WTO rules are established to promote
the expanding of trade and the increasing of trade. Like GATT the WTO
deals with trade on a global trade type of level. Global trade has made
it easier for nations to grow economically strong.

Ashlynn Wright

DB #2 WTO

November 14, 2015

3. Major article summary.

Hafer, N. (2010). World Trade Organization (www.wto.org). Journal of
Business of Financial Librarianship, 15(2), 131-135 doi:
10.1080/08963560903557636
The World Trade Organization is responsible for the annual
reports that are used to identify non-tariff measurements within
countries. WTO officially began its work on January 1, 1995. The
organization was guided by the General Agreements on Tariff and Trade
(GATT). The GATT had been creating trade rules since 1948. Since 2012
standards were challenged between members of the WTO to see if they
were to see if they were consistent with the rules of the organization at
hand. WTO provides the statistics and agreements that are related to
world trade. The WTO is an organization who purpose is to handle
international trade. Their main focus are dealing with government
agencies that are involved with trade. There are a number of ways for
looking at the WTO, but the WTO website will be your main source for
information. The website provides news about trade, treaty agreement
information, and the statistics to be viewed by the general public.
The World Trade Organization (WTO) is one of the most powerful
legislative and judicial body in the world. The WTO handles promoting
the free trade agenda of multinational corporations above the interests
of local communities, working families, and the environment. The WTO
is the only organization that can enforce its own rules. That is one of
the main reasons why the WTO is an extremely powerful organization.

Ashlynn Wright

DB #2 WTO

November 14, 2015

If two or more states have a dispute with one another over something
they have the right to invoke the WTO dispute settlement process. The
WTO is not allowed to prosecute a member but it is up to the countries
that are involved to bring forth the dispute to WTO.
4. Discussion.

a. The WTO encourages trade throughout our nations. Rules in WTO are
set to provide stability by guiding the conduction of agents operating in
a system. WTO helps the members within the system learn how to
follow the rules and what to expect. When WTO first was established
in 1995 it consisted of twenty-three members. The WTO is based
around many rules and is very member driven type of organization.
All the decisions are made by the member governments, and the rules
are the outcome of negotiations among members. Developing
countries often have uncompetitive industries. They rely on
government support and can be at risk against foreign rivals. WTO
ensures that global trade runs smoothly and freely. The WTO aims
high for world peace and stability. Currently there are 140 members
that are in agreement with the WTO. WTO rules are also based and are
part of the countrys legal system.

b. The World Trade Organization (WTO) helped shape regulatory

governance within countries. Since 1995 the WTO has been a

Ashlynn Wright

DB #2 WTO

November 14, 2015

framework that covers 159 nations. Since February 2014 WTO covers
about 97% of world trade. Since 1948 WTO has been a successor to
the General Agreement on the Tariffs and Trade (GATT). Members of
WTO are allowed to bring claims and concerns before the panels. The
panels decisions are based upon legal norms governing liberalization
and protectionism. I would say the WTO to be very remarkable
organization. This is because its amongst the most powerful
international organization in the world today. The goal of WTO is to
help producers of goods and services conduct business for importing
and exporting the products. WTO is directed under General Roberto
Azeverdo and overseen by the general council. The general council is
appointed by the general himself. The general council makes sure
that WTO is ran smoothly.

Ashlynn Wright

DB #2 WTO

November 14, 2015

References
Cottier, T. (2015), the Common Law of International Trade and the Future of
the World Trade Organization, 3-20. doi: 10.1093/jiel/jgv005
Jackson, J. H. (2008), the case of the World Trade Organization. International
Affairs, 84: 437454. doi: 10.1111/j.1468-2346.2008.00716.x
Shaffer, G. (2015), How the World Trade Organization shapes regulatory
governance. Regulation & Governance, 1-15. doi: 10.1111/rego.12057.
Wilkinson, R. (2002). The world trade organization. New Political
Economy,7(1), 129-141.