...World Trade Organization: The art of a little give and take Historical Overview of the WTO The World Trade Organization (WTO) was founded in 1995 as the predecessor to the General Agreements on Tariffs and Trade (GATT). The GATT was developed in 1947 on a provisional base after World War 2; it was not started as an international organization, but rather an inter-governmental treaty. Instead of being made up of participating members, such as the WTO, the GATT consisted of contracting parties. As stated in the preamble of the GATT-1947, the objectives of the contracting parties include ‘raising standards of living, ensuring full employment and a large and steadily growing volume of real income and effective demand ,developing the full use of the resources of the world and expanding the production and exchange of goods’(GATT, 1994a: 486). It continues by stating that reciprocal and mutually advantageous arrangements involving a substantial reduction of tariffs and other barriers to trade as well as the elimination of discriminatory treatment in international trade will contribute to the realization of these objectives. So in short the role of the GATT, was (and still is) to facilitate the reduction of barriers of trade and ensure greater equality with respect to conditions of market access for contracting parties. Through the negotiations made by the original 23 countries of the GATT, with additions of over 50 countries, came the charter for the International Trade Organization...
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...multilateral agreement regulating international trade. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis." It was negotiated during the UN Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). GATT was signed in 1948 and lasted until 1993, when it was replaced by the World Trade Organization in 1995. The original GATT text (GATT 1958) is still in effect under the WTO framework, subject to the modifications of GATT 1994 ------------------------------------------------- ------------------------------------------------- GATT and the World Trade Organization ------------------------------------------------- In 1993, the GATT was updated (GATT 1994) to include new obligations upon its signatories. One of the most significant changes was the creation of the World Trade Organization (WTO). The 75 existing GATT members and the European Communities became the founding members of the WTO on 1 January 1995. The other 52 GATT members rejoined the WTO in the following two years (the last being Congo in 1997). Since the founding of the WTO, 21 new non-GATT members have joined and 29 are currently negotiating membership. There are a total of 157 member countries in the WTO, with Russia and Vanuatu being new members as of 2012. Of the original GATT members, Syria[5][6] and...
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...training firm, leased several computers from ComputerWorld Corporation under a two-year operating lease agreement. The contract calls for four rent payments of $10,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by Computer World at a cost of $90,000 and were expected to have a useful life of six years with no residual value. | Required: | Prepare the appropriate entries for both (a) the lessee and (b) the lessor from the inception of the lease through the end of 2011. (Use straight-line depreciation.) (Omit the "$" sign in your response.) | Date | General Journal | Debit | credit | (a) Nath-Langstrom Services, Inc. (Lessee) | | | June 30, 2011 | Rent expense | | | | Cash | | | | | | | Dec. 31, 2011 | Rent expense | | | | Cash | | | | | | | (b) Computer World Corporation (Lessor) | June 30, 2011 | Cash | | | | Rent revenue | | | | | | | Dec.31, 2011 | Cash | | | | Rent revenue | | | | | | | | Depreciation expense | | | | Accumulated depreciation | | | | rev: 11_23_2011 Explanation: (b) Computer World Corporation (Lessor): | December 31,2011 | Depreciation expense ($90,000 ÷ 6 years) = 15,000 | 2. Exercise 15-7 Capital lease [LO5] American Food Services, Inc., leased a packaging machine from Barton and Barton Corporation. Barton...
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...The Doha Round of the World Trade Organisation (WTO) has sparked controversy, anger and even suicide from its commencement. This paper seeks to explore what is this Doha Round that has ignited such passionate displays from delegates and the common man alike, what are the issues at stake given the Round’s success or failure and finally, given the events that have marred its history to date and based on the many other factors in play, could the Doha Round come to a successful conclusion? The WTO conducts negotiations through what they call ‘rounds’. The November 2001 declaration of the Fourth Ministerial Conference in Doha, Qatar, known as the Doha Development Round, provides the mandate for negotiations on a range of subjects. Its objective is to lower trade barriers around the world, permitting free trade among countries of varying prosperity. The negotiations of the Doha Round take place in the Trade Negotiations Committee (TNC) and its subsidiaries. Other work under the work programme, such as issues concerning the implementation of the present agreements, takes place in other WTO councils and committees. The Doha Round was to begin at the WTO Ministerial Conference of 1999 in Seattle, and was supposed to be called ‘the Seattle Round’, however, some developing countries refused to launch the second round by blocking the “explicit consensus” needed at the final Heads of Delegation. It was later decided via explicit consensus at a meeting in Doha, Qatar, that all countries...
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...1964 (age 51)Norfolk, Virginia, USA | Stance | Southpaw | Boxing record | Total fights | 7 | Wins | 7 | Wins by KO | 3 | Losses | 0 | Draws | 0 | No contests | 0 | Pernell Whitaker Medal record | Men's boxing | Competitor for the United States | Olympic Games | | 1984 Los Angeles | Lightweight | Pan American Games | | 1983 Caracas | Lightweight | World Amateur Championships | | 1982 Munich | Lightweight | Pernell Whitaker (born January 2, 1964 in Norfolk, Virginia), nicknamed "Sweet Pea," is a professional boxing trainer and retired American professional boxer. Whitaker was the lightweight silver medalist at the 1982 World Championships, followed by the gold medalist at the 1983 Pan American Games and the 1984 Olympics. Whitaker then embarked on a pro career in which he became world champion in four different weight divisions. During his career, he fought world champions such as Julio César Chávez, Oscar De La Hoya and Félix Trinidad. For his achievements, he was named the 1989 Fighter of the year by Ring Magazine. Whitaker is also a former WBA Light Middleweight Champion, WBC Welterweight Champion, IBF Light Welterweight Champion, WBC, WBA & IBF Lightweight Champion and NABF Lightweight Champion. He is universally heralded as one of the top 5 lightweights of all time. After his retirement, Whitaker returned...
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...Intro The name Muhammad Ali is known throughout the world , and to many people he is referred to as a hero. Certain events in Muhammad's life made him into a respectable and generous person. By examining the life, contributions to the world, and how he will continue to inspire the next generation, I will prove that Muhammad Ali is an important figure. Life Boxer, philianthropist, and social activist Muhammad Ali was born as Cassius Clay on January 17, 1942 in Louisville, Kentucky. Being the first son, he was named after his father, Cassius Marcellus Clay Sr. His father painted signs and his mother Odessa Grady Clay worked as a cleaning lady, whenever they struggled with money. Considered one of the greatest athletes in boxing history, Ali showed his bravery at an early age. Growing up in the segregated south, Ali discovered and experienced racial prejudice firsthand, which likely lead to his early passion for boxing. (The making of an icon, page 7) When 12 year old Muhammad Ali went to a merchandise fair with his friend in his hometown, Louisville, they returned to get their bicycles only to discover that Muhammad's bike had been stolen. Furious, Ali reported the crime to the Columbia Auditorium. He spoke to the nearest policeman Joe Martin, who was also a boxing coach at the Columbia gym. Ali threatened to beat the victim up, but Martin suggested that he should probably learn to fight first. Ali started working with Martin to learn how to box, and soon began...
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...Foundation Simulation Final Report MANA 4322 – Organizational Strategy Example 2015 Annual Report Sensors, Inc.’s Mission Statement: The Mission of Sensors, Inc. is to provide high quality sensors to the electronic sensor industry for distribution world wide. Sensors will produce a variety of sensors in both the High and Low Tech markets using established market specific R&D methods and price them competitively within this highly competitive market. Sensors is committed to producing products that have excellent designs and quality attributes. Original Strategy: At the outset of incorporation, Sensors, Inc.’s management decided that it would concentrate on a strategy of being a Cost Leader with Product Lifecycle Focus. In this strategy, we will focus on keeping our R&D, production and material costs low and compete with the other companies in our industry on the basis of cost. We will introduce new products into the High Tech market every other year or so and allow them to move through the perceptual map into the Low Tech market and then eventually become obsolete. We will measure our performance in terms of Stock Price, ROE and ROS. Environmental Analysis: Electronic sensors are used in a wide variety of industries and applications and are in constant need of modifications to meet customer demands. The customers usually like to purchase smaller sensors with higher performance, especially so in the High Tech Market. In the Low Tech Market, larger...
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...graphical stickers,[6] emoticons, images, videos, audios, files, voice messages, contacts and user location. Hike was launched on 12 December 2012 [7] and raised its first round of funding of $7 million from Bharti SoftBank in April 2013. Hike is a joint venture between Bharti Enterprises and Softbank.[8] Hike's founder is Kavin Bharti Mittal (the son of Bharti Mittal, the founder of Airtel). History Launched on 12 December 2012, Hike attained 15 million users in February 2014 and raised $14 million for its development.[8] Over the next few months, the application introduced free text messaging anywhere in India, chat themes, updated stickers, hidden chats and revamped user interface. In August 2014, Hike hit 35 million users and raised another big round of funding - $65 million - led by Tiger Global. Hike Messenger made its first acquisition, buying free voice-calling company Zip Phones, which allowed it to launch free app based calling services that are emerging as a key draw for users.[9] In 2015, Hike launched the "Great Indian Sticker Challenge" to invite designers to design new stickers. As per the communication statistics on Hike, 30% of the traffic comes from stickers.[10] On Oct 2015, the CEO of hike announced that the userbase of hike reached up to 70 million and more than 20 billion messages are shared each month.[11] and in December according to hike blog hike is sharing over 1 billion messages every single day and 30 billion+ messages a month.[12] As of January...
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...Foundation Simulation Final Report MANA 4322 – Organizational Strategy Example 2015 Annual Report Sensors, Inc.’s Mission Statement: The Mission of Sensors, Inc. is to provide high quality sensors to the electronic sensor industry for distribution world wide. Sensors will produce a variety of sensors in both the High and Low Tech markets using established market specific R&D methods and price them competitively within this highly competitive market. Sensors is committed to producing products that have excellent designs and quality attributes. Original Strategy: At the outset of incorporation, Sensors, Inc.’s management decided that it would concentrate on a strategy of being a Cost Leader with Product Lifecycle Focus. In this strategy, we will focus on keeping our R&D, production and material costs low and compete with the other companies in our industry on the basis of cost. We will introduce new products into the High Tech market every other year or so and allow them to move through the perceptual map into the Low Tech market and then eventually become obsolete. We will measure our performance in terms of Stock Price, ROE and ROS. Environmental Analysis: Electronic sensors are used in a wide variety of industries and applications and are in constant need of modifications to meet customer demands. The customers usually like to purchase smaller sensors with higher performance, especially so in the High Tech Market. In the Low Tech Market, larger, slower sensors...
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...EARLY LIFE Mr. John Agyekum Kufuor was born on December, 1938 in Kumasi, Ghana. He had his Secondary Education at Prempeh College where he passed at the top of his class. He enrolled at Lincoln Inn, London, and was called to the Bar in 1961 at the age of 22. He then entered Oxford University where he passed his Honour’s BA degree in 1964 in Economics, Philosophy and Politics. with the Master's degree by the University. Mr. Kufuor comes into this arena with credentials and experiences unmatched in Ghana's history. His public service spans over thirty years. In 1967, he was appointed Chief Legal Officer and Town Clerk (City Manager) of Kumasi, the Second Largest City of Ghana Kufuor served as the Member of Parliament for Atwima Nwabiagya in the Second (1969-1972) and Third (1979-1981) Republics. He was a member of the 1968-69 and the 1979 Constituent Assemblies that drafted the Constitutions of the Second and Third Republics respectively. In addition, he was a Founding Member of the Progress Party in 1969, the Popular Front Party in 1979 and is a Founding Member of the New Patriotic Party. He has twice been elected as a Member of Parliament, during the Second and Third Republics. He has also been in political detention on two occasions as a result of military coups that overthrew the Second and Third Republics. He has been a Deputy Minister of Foreign Affairs and in this capacity, he represented Ghana on several occasions. As the Spokesman on Foreign Affairs and Deputy...
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...Foundation Simulation Final Report MANA 4322 – Organizational Strategy Example 2015 Annual Report Sensors, Inc.’s Mission Statement: The Mission of Sensors, Inc. is to provide high quality sensors to the electronic sensor industry for distribution world wide. Sensors will produce a variety of sensors in both the High and Low Tech markets using established market specific R&D methods and price them competitively within this highly competitive market. Sensors is committed to producing products that have excellent designs and quality attributes. Original Strategy: At the outset of incorporation, Sensors, Inc.’s management decided that it would concentrate on a strategy of being a Cost Leader with Product Lifecycle Focus. In this strategy, we will focus on keeping our R&D, production and material costs low and compete with the other companies in our industry on the basis of cost. We will introduce new products into the High Tech market every other year or so and allow them to move through the perceptual map into the Low Tech market and then eventually become obsolete. We will measure our performance in terms of Stock Price, ROE and ROS. Environmental Analysis: Electronic sensors are used in a wide variety of industries and applications and are in constant need of modifications to meet customer demands. The customers usually like to purchase smaller sensors with higher performance, especially so in the High Tech Market. In the Low Tech Market, larger, slower sensors...
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...**** Sustainability Plan for Water & Energy Consumption for Marriott Introduction You are to write this assignment from the point of view of the company’s new CSR Manager so you should use this section to introduce yourself to company executives and stakeholders and that this document is the company’s approved 2017 CSR Plan. Let’s assume that I am another company executive, an insider, and will be receiving your plan. You will want to write this in a professional way, directed to insiders that know the company well, in a manner that is very convincing and compels us all to work together towards our goals. Marriott Hotels Use this area to talk about your global hospitality or tourism company’s mission, vision, goals, purpose, values or credo which will provide the strategic foundation for our CSR plan. Provide any additional background information about the organization that you think important to the CSR plan that will be pertinent to our understanding of why you selected each of your methods below. You do not need to repeat background information about the company that insiders likely already know, such as how big the company is, or what countries it operates in, unless you want to use that to make a specific point. For example if it’s a large, worldwide company taking on a large, worldwide cause, you might want to state that congruence as a reason for your strategy. This will be the SAME company that you profiled in your Case Study assignment but this time...
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...The Green Barrier to Free Trade C. P. Chandrasekhar, Jayati Ghosh and Parthapratim Pal At the end of the latest round of meetings of the agricultural negotiations committee of the WTO, the optimism that negotiators would manage to come at a consensus on numerical targets, formulas and other “modalities” through which countries can frame their liberalisation commitments in a new full-fledged round of trade negotiations has almost disappeared. In a report by the negotiations’ chairperson to the Trade Negotiations Committee, circulated to WTO member governments on 7 July 2003, the chairperson Stuart Harbinson says: “Achieving the objective of establishing modalities as soon as possible has continued to remain elusive. … As matters stand, collective guidance and decisions are required on a number of key issues in order to clear the way for reaching [the goal set out in the Doha mandate]”. Establishing modalities before the Cancun ministerial was important for two reasons. First, it is now becoming clear, that even more than was true during the Uruguay Round, forging an agreement in the agricultural area is bound to prove extremely difficult. Progress in the agricultural negotiations was key to persuading the unconvinced that a new ‘Doha Round’ of trade negotiations is useful and feasible. Second, the Doha declaration made agricultural negotiations one part of a ‘single undertaking’ to be completed by January 1, 2005. That is, in a take ‘all-or-nothing’ scheme, countries had to...
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...Introduction to Economics I TRADE AGREEMENTS AND WORLD TRADE ORGANIZATION PROFESSOR ASSISTANT STUDENTS Nataša Tandir Nedžad Isaković Sejid Abaz Sarajevo, December 2011. CONTENT Trade Agreements.......................................................................................................................... 3 Bilateral and Multilateral Agreements................................................................................. 3 Trade Agreements and Trading Blocks............................................................................... 3 Different types of trade agreements..................................................................................... 3 1. Free Trade Areas (FTA)........................................................................................... 3 2. Common Monetary Area (CMA)............................................................................. 5 3. Customs Union......................................................................................................... 5 4. Common Market...................................................................................................... 6 5. Monetary Union....................................................................................................... 6 6. Economic Union...................................................................................................... 7 World Trade Organization.............................
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...Simiyu Wambalaba Semester : Summer 2008 Term Paper – World Trade Organization (WTO) TABLE OF CONTENTS 1.0 INTRODUCTION 4 1.1 What is WTO? 1.2 History of WTO 1.3 Mission 1.4 The Structure of WTO 2.0 WTO SYSTEMS 11 3.0 CONITIONS FOR MEMBERSHIP 17 4.0 OBJECTIVES OF WTO 24 5.0 WTO DISPUTE RESOLUTION SYSTEM 27 5.1 Governing Principles 5.2 Stages Of Dispute Resolution 6.0 SUCCESS AND FAILURES OF WTO 29 7.0 WTO AND 3RD WORLD RELATED ISSUES 35 7.1 Who are the Least Developed Countries? 7.2 Who Are the Developing Countries? 7.3 Issues Relating to 3rd World Countries 7.4 Action Plan for the Least Developed Countries 8.0 CHALLENGES FACED BY WTO 42 8.1 Overloading the WTO 8.2 Decision Making 8.3 The role of overlapping unimplemented commitments from the Uruguay Round with new issues from the Doha Round 8.4 Regionalism 8.5 Eroding national sovereignty 8.6 Asymmetry between goods and service liberalization 8.7 Protecting intellectual property 8.8 Asymmetry between public and private trade restrictive Measures 8.9 Shooting at a moving target: Protectionism in disguise 8.10 Doha Development Agenda 8.11 A Healthy WTO 8.12 Timeliness and Politics 8.13 The Alternative to the Doha Round 8. 14 Next Steps for the WTO 9.0 OVERCOMING THE CHALLENGES...
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