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The WTO and the Environment I. Introduction and Background What is the World Trade Organization, and how can it be so controversial? The WTO itself has only been
WTO Trade and the Environment: The WTO's effect on the environment following the second World War, a document known as GATT, or General Agreement on Tariffs and
in the markets of 140 - soon to be - 170 WTO Member countries. WTO membership will lead to: ? The establishment of an environment conducive to the development of
the Appellate Body opens the way for WTO-consistent use of unilateral trade incentives linked to international environmental norms, in addition to the environment-related
in China, despite the potential changes in the Chinese environment as a result of their entering the World Trade Organization (WTO). Such a venture implied uncertainty
Submitted by wakman on October 18, 2006
Category: Business
Words: 3080 | Pages: 13
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I. Introduction and Background
What is the World Trade Organization, and how can it be so controversial? The WTO itself has only been around for 11 years, since 1995, but its principles and operations date back to 1947. Following World War II, the United States along with other countries wanted to create an international trade body that would help promote trade and the global economy. The organization created became known as GATT, General Agreement on Tariffs and Trade. GATT's main functions were to lower tariffs and to be an international court-style system to settle trade disputes between nations. One of the principles that GATT was founded on was that of nondiscrimination, meaning one country could not favor trade with another country and not give other countries the same benefits. The GATT system had several "Rounds" of negotiations to lower tariffs and the first round in 1947 successfully lowered tariffs an average of twenty-one percent. At the conclusion of the Uruguay Round on January 1, 1995 GATT was transformed from a trade accord into an organization that required membership and was an international governing body that basically created codes of conduct for trade between its members. (Carbaugh, 181).
GATT and WTO are different in many ways. The main difference being that GATT was a set of rules agreed upon by nations, the WTO is a institutional body that covers a broader range of trade to include not only goods, but also goods in the service sector such as insurance, banking, and investments, and TRIPS which stands for Trade Related Intellectual Property rights, (GATT). The GATT dispute settlement process did not include the authority to enforce the panel's recommendations.
II. The Structure of WTO
WTO designed similar to many national governments. All members are allowed to participate in all councils and committees, but are not allowed to participate in the Appellate Body, Dispute Settlement...
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