...discussions in lecture/seminars and to have read all the set Essential Reading before class. Credits: Lecture Venue and Times Method of Delivery & Frequency on Class: Method and Criteria of Assessment: 100% Coursework (5000 words) Essay Submission Deadline is 4pm, Wednesday 27 November 2013 Topics: Please choose one area listed below and discuss its recent development in the context of China. You will need to narrow down your focus and set your own essay topic. 1. 2. 3. 4. 5. Non-market Economies in the WTO Energy Industry and the WTO Environment and the WTO Commentary on one WTO case involving China Self-selected topic upon approval (You are most welcome to decide a topic yourself. Once you decide to do so, however, you need to submit your topic and an one-paragraph abstract before 4pm 31 October. ) Module Aims: To give the students a broad knowledge of the multilateral trading system and China’s interaction with that system through focusing on several key sectoral topics. The module will also reinforce and extend the student’s knowledge of the business environment in China gained from other modules. Nottingham University Business School China WTO Module Outline 2 Summary of Content: The course will cover all of the primary WTO agreements, and address some of the more recent issues arising in public debates...
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.... How Can Azerbaijan Diversify Its Economy Away from Petroleum Dependence to More Sustainable Economic Development? June 2012 By Nurana Mammadova* It is known that the "black gold" is the main supplier for the state budget of the Azerbaijan Republic. Approximately 74% of the state budget derives from the proceeds of oil and petroleum products, and therefore the economy is almost entirely based on the oil industry. All this warns us against a very disastrous problem. If we have abundant oil resources, it does not mean necessarily that we should generally use only them. After all, the rest of industry, agriculture, services, and so on remain on the sidelines. At the same time, there is potentiality for the development of other economic sectors, namely the agriculture, industry and other sectors. The problem is that as a result of Azerbaijan's economy dependence on oil, we did not pay much attention to the comprehensive development of our economy. And this in turn is negative for the economic development: that’s the reason why Azerbaijan is not able to be classified as a more developed country. In addition, it is known that the GDP index is the economic indicator for the development of a country. In the eventuality that a large part of the GDP derives from the exploitation of natural resources, this country can hardly be considered as developed. For example, Saudi Arabia's per capita GDP is almost higher than...
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...economic reforms resulted in it joining the World Trade Organization which has promoted more competitive, export-driven industries, It also became an official negotiating partner in the Trans-Pacific Partnership trade agreement in 2010. These lifts in protectionism has meant that poverty has declined significantly however, Vietnam is still working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. It also still suffers from relatively high levels of income inequality, disparities in healthcare provision, and poor gender equality. This essay aims to firstly set out the role of the WTO and why Vietnam sought accession, it will then discuss both the positive and negative impacts that freer trade has had on the country. Vietnam joined ASEAN/AFTA in 1995, ASEM in 1996, and APEC in 1998. In January 1995, Vietnam applied for WTO...
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...Impact of WTO on Globalization Trade Policy Introduction World Trade Organization (WTO), found in 1995 and headquarters is in Geneva, has its clearly main purposes since its beginning that to promote economic and trade development all over the world. Up to the end of 2008, there are more than 135 members in the organization. In particularly, with the expansion of globalization trade, international business is more often than any time in the history. As one of the most crucial carrier of economic globalization, WTO establishes a set of international trade rules focusing on the liberalization, which play a strong role of encouraging and guiding in the process of economic globalization (Pauwelyn, 2005). This essay will mainly discuss WTO’s influence on the rules of globalization trade in combination with the current reform of trade policy. It will explain the topic from the following four aspects in detail: first, the basic rules WTO set up for the international trade, then, rules on e-commerce, the new rising global business, third, the preferential rules made by WTO for developing countries, and at last, it will discuss the impacts of WTO’s regulations on environmental issues when doing global trade. Basic Rules WTO set up for the Global Trade WTO's main objective is to provide adequate competitive opportunities for the trade among the members, which needs recognized common rules and principles for members to abide. There are two basic principles, namely the MFN principle (referred...
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...1. Introduction The World Trade Organisation (WTO) was formally made in January of 1995, and essentially supplanted the General Agreement on Tariffs and Trade (GATT), which had been in power subsequent to 1948, a couple of years after the Second World War (Study.com, 2015). The WTO is a multilateral establishment charged with directing rules for exchange among 145 official member countries. The United States and different members partaking in the Uruguay Round of Multilateral Trade Negotiations (1986-1994) required the arrangement of the WTO to encapsulate the new trade disciplines received amid those transactions (Wto.org,. 2015). This essay will firstly evaluate the roles of the WTO and then the challenges the World Trade Organisation face in the world economy and these how challenges are addressed. 2. The Role of the WTO in the Global Economy The World Trade Organisation exists to encourage the implementation, administration and operation, and additionally to facilitate the goals of the WTO agreements (Ruttley, P., Macvay, I. & George, C., 1998). Beyond this general purpose, the WTO has four particular functions. Firstly, to provide a meeting for arrangements among its members concerning their multilateral trade cognations in matters dealt with the accedences in the Annexes of the Marrakech Agreement for both current matters and any future understandings. The WTO may withal provide a forum for further negotiations among its members concerning their multilateral...
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...retained a clear focus on China market. In view of these changes of HSBC’s China strategy, it may be instructive to examine how banking environment and police of China changed over the years. Upon China’s accession to the WTO, foreign bank were allowed to enter China’s bank sector. HSBC seized the tremendous opportunity to strengthen its presence in China. This essay will begin by examining the evolution of HSBC’s Strategy in pre-WTO and post-WTO China. Next, It turned to analyse the impetus to these changes of HSBC’ China strategy. In the following part, this essay will introduced the background of HSBC expanding in China’s rural areas and evaluated this strategy from advantages and disadvantages aspects. Having presented the HSBC’s presence and strategy in China, the paper then analyses HSBC’s operating in other emerging markets with the evidence from India and Argentina. Moreover, the data and facts will be provided to evaluate the operation of HSBC during the recent world economic crisis. The further research about the reasons that Asian was identified by HSBC for future opportunities will be presented followed. The final section presents some conclusions and relates those to the operation of international business to provide some advice. Prior to the WTO accession, China’s market was not open up to foreign competition. In China’s centrally planned economy, the function of the state commercial banks was misplaces as a social function...
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...International Studies Essay Proposal Thesis “The TRIPS agreement has lead to a decrease in welfare among the world’s poorest nations. Heavily influenced by large pharmaceutical companies, the agreement has decreased access to possibly life saving medication by increasing worldwide cost of medication. Despite attempts from the WTO’s Doha Round to mitigate the negative effects of TRIPS access to pharmaceuticals in LDC’s remains damaged.” Topic Economic globalization’s affect on the health of sub-saharan Africa specifically concerning the TRIPS agreement and it’s effect on access to pharmaceuticals for LDC’s Research Questions I. Which LDC’s have been most effected by TRIPS agreement? II. How has the Doha Round of WTO talks and Amendments to the agreement effected the impact of TRIPS on LDC’s? III. How has TRIPS affected welfare in LDC’s? IV. Have changes in welfare due to TRIPS effected development in the LDC’s? V. How has trade globalization impacted sub-saharan LDC’s access to health care? VI. What individual examples exist of TRIPS positively and negatively impacting sub-saharan welfare? VII. Which countries express the greatest need for generic pharmaceuticals? VIII. What are the real effects on pharmaceutical companies when generic medications are sold IX. How does TRIPS effect R&D in LDC’s? International Studies 100 Hill 1 Brendan Hill | 200245349 November, 14, 2014 Aspects of Globalization This essay will conduct an assessment on...
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... The East Asia’ Regional Economic Integration In the past twenty years, the East Asian economies realized the freedom of foreign trade and direct investment (FDI) because of the influence of GATT/WTO and APEC and as a result, it further promotes the economic growth of East Asia. The mutual economic dependence of each countries has increased a lot and therefore, close economic cooperation among Asian countries is necessary for healthy economic development. Many countries try to deepen their cooperation by establishing agreement and carrying out negotiation or discussion (Kawai 2004). Besides, the East Asian countries want to have their own institutions where they have vital voice in decision making after the financial crisis. As a consequence, the regional economic integration become an inevitable trend. The structure of this essay is organized as follows. The first part of this essay will discuss the driving forces of East Asia’s regional economic integration, including the failure of the WTO and APEC, and the financial crisis. The second part will illustrate how regional organizations of East Asia are developed in aspect of trade cooperation and financial cooperation and then followed by the difficulties in creating a regional economic union, such as the resistance from the United States and the great...
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...Most people are familiar with the Nike logo. Most people also know that Nike is a multi-million dollar company that sells name brand shoes worldwide. Millions of pairs of Nike shoes are sold daily, but what people don’t know about Nike shoes is how and where they are made, who makes them, and how Nike spends its money in this process. According to the “Sweatshop Fact Sheet,” Tiger Woods is paid over fifty five thousand dollars a day to be their spokesman. Another famous person that is a spokesman for Nike is Michael Jordan. According to the article “Running Away With the Profits,” (Environmental Action, Academic Search Elite), Michael Jordan is paid twenty million dollars in endorsement fees. Big name sport teams advertise Nike to appeal to the common person. Indonesia is one of many countries around the world that is home to numerous Nike factories. Indonesia is a third world country of 214 million people. The main part of the economy is farmers, with half of these being the labor force. This happens to be an ideal country of choice for Nike to set up their factories for manufacturing their shoes. It allows Nike to take advantage of the local people. These people need to work in these factories to make a living, and they are stuck with the poor working conditions that Nike has provided. One way in which Nike is taking advantage of their workers is through long and hard work hours. According to the article: “We are not machines,” the Nike’s code of conduct states that...
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...Hong Kong and Shanghai Banking Corporation (HSBC) was founded in Hong Kong and Shanghai in order to finance the growing trade between China and Europe. HSBC has it’s headquarter in London and enriches an international network which comprises around 6,200 offices in 74 countries and territories (HSBC, 2013). For decades, HSBC has grown and adapted to conquer the difficulties in China’s revolution and economic crises and now becomes the largest foreign bank in China. This essay combines core module theories and empirical case study to analyze HSBC’s strategy. In the first part, this essay will demonstrate how the strategy of HSBC changed, and compare the strategies before and after the accession to the WTO. The second part will discuss advantages and disadvantages of concentrating on rural areas and emerging markets. The influence of financial crisis, future opportunities as well as threats will be analyzed at last. 1. HSBC’ strategy and China accession to the WTO 1.1. The reason for changing strategy Down the decades, HSBC’s has grown and adapted their strategy from localization to globalization for China in order to react to the changes of economic reform and financial liberalization. HSBC differentiates its strategy from those competitors by describing the unique characteristics which is ‘The world’s local bank.’ Due to this position and strategy, HSBC is involved directly and indirectly in China's modern economic development and reform. HSBC’s strategy in China changed...
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...have been many views on the usage of sustainable tourism and what it constitutes. Some researchers are skeptical as to whether organizations promote this term for areas that are actually ‘sustainable’, or as Lansing suggests, “an unethical claim and consequently false advertising”. (Lansing, pg. 77). There are many areas or regions that have been scooped up as projects to preserve the wildlife and lands. One project that this essay will focus on is the Damaraland Camp in North West Nambia. As discussed in the assigned reading, The Damaraland Camp was built in 1996 and a partnership was later formed with both the locals and the Wilderness Safaris Namibia. (WTO, pg. 1). The idea of the project was to not only help the locals financially by bringing in tourism to the area, but to also educate them on the subject of tourism and to further create jobs. The project was also created to help protect and increase numbers in the wildlife of the region. According to the World Tourism Organization there are three developmental requirements that this essay will look at in regards to the Damaraland Camp project. First, sustainable tourism conserving the regions natural biodiversity and heritage, second is the respect for the local communities which would include, keeping up their traditional values, ideals, and living conditions. Finally the last requirement suggests that those a part of the local communities who both are employed or are collecting income are getting a ‘fair share’...
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...1995, killing 12 and injuring over 5,000. The ultimate goal of the cult was to bring about chaos on an international scale culminating in a nuclear war, as a means of ushering in the apocalypse. The 1995 attack was an effort to test methods of dispersing chemical weapons, a step towards achieving that goal. Significance: Aum Shinrikyo was the first non-state actor to successfully carry out a large-scale chemical weapon attack against civilians. The cult illustrates a new face of terrorism, post-modern terrorism. Post-modern terrorism is defined as groups without specific political or sub-national goals who desire to kill as many people as possible; mass murder for its own sake, often apocalyptic and nihilist in nature. ESSAY: Use the Syllabus and Class Schedule to identify the MAJOR themes, issues, and problems we have dealt with thus far. Be able to ANALYZE these issues, NOT simply describe them, in the context of class discussion, videos, and your readings. Be able to put...
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...Discuss how and why China’s relations with the world economy change after 1993? The economic reforms of China, called “open doors policy” starting in 1978 with Deng Xiaoping –the leader of the Communist Party of China (CPC) - marked the beginning of a new era where China initiated to open its economy to the world. (Nolan, 2005) In 1992, during his Southern tour, Deng Xiaoping introduced the term of “Socialist Market economy” to describe Chinese economy and in 1993 the term was added to the Constitution, which means that socialism was still the basis of the economical system but that the State also protected the market economy from now on and therefore was ready to go international. This essay will discuss to which extent 1993 was the changing year for China’s international economic relations. Naughton (2007) refers to the 1990s reform in China as a “reform with losers” meaning that at this point, Chinese economy was moving towards a transformation to capitalism. They started to strengthen the institutions of market economy and began to privatize the State sector. The State-owned Enterprises (SOE) reform - specifically the “grasping the big, letting go of the small” strategy - was aimed to improve the efficiency and corporate governance of the State companies by keeping the key resources (such as infrastructure construction, telecommunications, financial services, energy and raw materials) (GENG, X., YANG, X. and JANUS, A. 2009) and the big companies and let go the...
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...DEPARTMENT OF ECONOMICS Course: International Business Module, 2004/2005 Course Lecturers: Sougand Golesorkhi (B10) Kwok Tong Soo (B47a) Tutors: Alina Petrescu Jasleen Sindhu Tatiana Boroditskaya Zoe Whang Tel: + 44 (0) 1524594418 (Soo) Email: s.golesorkhi@lancaster.ac.uk k.soo@lancaster.ac.uk Please note that the Departmental Office is open every weekday, 9-11am & 2-4pm. You should consult the Part 1 notice board at regular intervals throughout the term. This is located outside B34 in the Management School. Students should note that the principal method of communicating administrative matters will be via Lancaster e-mail accounts. Also note that there is a Part 1 Economics discussion space (for 101 and 102 students taking the International Business option) that students and staff can access via the following URL: http://domino.lancs.ac.uk/econ/intbus.nsf. If you have queries regarding your Economics studies you can attend one of the drop in sessions in which a member of staff is available to help you with any aspect of the course with which you are struggling. Details of the times and locations of the drop in sessions will be posted on the Part 1 notice board. Course Aims: The aims of the course are to: • introduce students to a variety of international business issues, including international trade, international investment, international labour flows, and the market for foreign exchange. • provide students with an...
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...Introduction The World Trade Organization (WTO) was established January 1, 1995. Before WTO’s inception it was known as the General Agreement on Tariffs and Trade (GATT). However, GATT was not treaty, therefore “the provisions of GATT were binding only insofar as they are not inconsistent with a nation’s existing legislation” (Aaronson, n.d.). Many proponents of labor sometimes consider the WTO a very controversial organization. Many labor advocates feel that free trade has a negative impact on employment and the economy here in the United States. According the WTO website, “The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. Mission and Goal The mission of the WTO is to help producers of goods and services, exporters, and importers conduct their business. What does all that really mean in plain English, the main function of the WTO is to ensure that trade flows as smoothly, predictably and freely as possible. Structure and Architecture The WTO is comprised of several different councils and committees that make up its structure. Here are a list of the councils, and committees along with some of the responsibilities of each unit. The descriptions below are courtesy of 3.1 Structure of the World Trade Organization, Handbook. * The Ministerial Conference...
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