ithin the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments.

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Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:

Dispute settlement is the focus of the World Trade Organization (WTO) and the way that the organization keeps the global economy stable.

  • What is the WTO, and what is its history?
  • What are the benefits of being a member of the WTO?
  • What are the disadvantages?
  • How does it settle disputes?

Choose a recent dispute between 2 countries, and discuss it with your peers. Include the following:

  • Summary of what happened
  • How it was resolved
  • Role played by the WTO
  • Do you agree with the resolution?

Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions: ****SEE BELOW*****


response one is james

Dispute settlement is the focus of the World Trade Organization (WTO) and the way that the organization keeps the global economy stable.

What is the WTO, and what is its history?

“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. The goal is to ensure that trade flows as smoothly, predictably and freely as possible.” (www.wto.org)

The WTO is a follow-on to the General Agreement on Tariffs and Trade (GATT) that was established after World War Two to help facilitate trade between the countries of the world and is located in Geneva, Switzerland. Trade has been around since the beginning of human history; the WTO allows most of the countries on the planet earth to have a forum to discuss trade and make sure it’s fair.

What are the benefits of being a member of the WTO?

One of the benefits is that your country will have the opportunity to participate in trade with the 164 member states that consist of 98% of the countries on the planet. It can help reduce trade barriers and establish rules for intellectual property. Some countries may be members of the WTO but will steal intellectual property from other countries, as they do not have to spend the money on research and development.

What are the disadvantages?

A disadvantage could be that you may have to follow rules that you may find unfair or not in your best economic interest. But when you are a member, you have to follow along with what was negotiated, so it is in your countries best interest to have a talented negotiator to represent your interest.

How does it settle disputes?

The WTO has a General Council that is decision making body that also accomplishes the trade policy review and under other rules also acts as the Dispute Settlement Body (DSB). That is the core of the organization, to resolve trade disputes and to establish if one or more of the members are violating agreements.

Some examples of the items to be resolved at the DSB; According the WTO.org website the top three items on a 15 February 2019 memo of proposed items of consideration are:

“A. UNITED STATES –ANTI-DUMPING MEASURES ONCERTAIN HOT-ROLLED STEEL PRODUCTS FROM JAPAN: STATUS REPORTBYTHE UNITEDSTATES (WT/DS184/15/ADD.192)”

“B. UNITED STATES –SECTION110(5) OF THE US COPYRIGHT ACT: STATUS REPORT BY THEUNITEDSTATES (WT/DS160/24/ADD.167)”

“C. EUROPEAN COMMUNITIES–MEASURES AFFECTING THE APPROVAL AND MARKETING OF BIOTECHPRODUCTS: STATUS REPORT BY THEEUROPEANUNION (WT/DS291/37/ADD.130)”

Choose a recent dispute between 2 countries and discuss it with your peers. Include the following:

Summary of what happened

A past case was between the United States and South Korea because the U.S. Felt that South Korean company Samsung was dumping cheap washing machines into the U.S. so they could beat out the U.S. firms that produce washing machines. The U.S. filed a complaint with the DSB, and the issue was recently resolved on 15 February 2019.

How it was resolved

The BSD took the case issued a ruling that South Korea had in fact violated that they were dumping washing machines, and in general they issued a ruling that Samsung would have a 15-month period of not importing washers into the U.S. without paying a penalty tariff.

Role played by the WTO

The WTO and specifically the DSB resolved this dispute without any major issues between the two countries. That is one of the main roles of the WTO is to resolve issues in regard to each member’s perception of what is fair trade. It is a good organization that can help keep the peace between nations as trade and economics have caused wars in the past.

Do you agree with the resolution?

After reading all of the different articles on this subject I do think that it was resolved fairly. Since the United States is the largest economy on the planet, and the largest consumer of all products world-wide some countries will try and break trade agreements to get their products to the U.S. market ahead of other countries or even U.S. companies. The DSB is key in making sure everyone plays by the same rules.

Reference:

https://www.wto.org/

https://www.wto.org/english/news_e/news19_e/dsb_agenda_25feb19_e.pdf



RESPONSE TWO I WILL SEND FRIDAY

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Explanation & Answer

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1

World Trade Organization (WTO) and History
World Trade Organization is intended at advancing facilitated commerce with the help of
reformation of trade transactions along with performing a role as a free judge in the settlement of
disputes in trade. WTO to some degree has been successful in advancing more notable
unimpeded commerce. Established on 1st January 1995, the World Trade Organization (WTO) a
successor of GATT (1947) is the embodiment of the results of Uruguay Round (UR) held during
1986-93. The various agreements reached in the important sectors and the commitments made by
the members (now 149) reflect clearly a keen desire on their part to establish and strengthen
overtime a multilateral trading system at the global level based on rules rather on power which is
equitable, fre...


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