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Essay / Research Paper Abstract
This 8 page paper provides an overview of the World Trade Organization beginning with its emergence from the GATT rounds at Uruguay. The essay goes on to describe the official functions and authorities of the WTO, some dispute settlement rulings by the organization, the protest against the WTO in Seattle in 1999 and some of the internal conflicts among member nations. Bibliography lists 7 sources.
Page Count:
8 pages (~225 words per page)
File: MM12_PGwto2.rtf
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Unformatted sample text from the term paper:
Tariffs and Trade (GATT), the International Monetary Fund (IMF) and World Bank (Georgetown University Law Library, 2001). After World War II, the United States and the United Kingdom submitted
proposals to the Economic and Social Council (ECOSOC) of the United Nations asking for an international trade body and suggested that it be called the International Trade Organization (ITO) (Georgetown
University Law Library, 2001). In 1946, the ECOSOC convened the United Nations Conference on Trade and Employment to discuss the establishment of the ITO (Georgetown University Law Library, 2001). The
23 countries who were going to be part of the original GATT did not want to wait for the conference to complete its work before international trade became more liberalized
and so, these 23 nations began negotiating trade issues, such as tariffs (Georgetown University Law Library, 2001; Iowa State University, nd). The results of the negotiation were incorporated into the
GATT, which was subsequently signed in 1947 (Georgetown University Law Library, 2001). The ITO Charter was meant to accomplish several goals: to provide world trade disciplines, to include rules about
employment, agreements regarding commodities, rules about business practices and rules about international investment practices (Iowa State University, nd). Protectionism had led to extremely high tariffs during the decades prior to
the War and the ITO Charter would correct the situation opening trade between these countries (Iowa State University, nd). The first round of negotiations were successful - 45,000 tariff concessions
were made among the countries (Iowa State University, nd). These affected one-fifth of the entire world trade at the time (Iowa State University, nd). The nations who had met also
decided these concessions should be protected and these did become a part of the GATT when it was finalized (Iowa State University, nd). The ITO never became a reality
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