Essay Title: 

Evaluating the environment

March 24, 2016 | Author: | Posted in law

Running head : EVALUATING THE ENVIRONMENT Evaluating the Environment

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Introduction

It is said that development is something largely determined by poor countries themselves , and outsiders can play only a limited role . This study is being carried out to understand the impact of international trade relations and organizations like WTO (World Trade Organization GATT (General Agreement on Tariffs and Trade ) on developing countries Developing countries themselves emphasize this point , but in the rich world it is often [banner_entry_middle]

forgotten . So too is the fact that financial aid and the further opening of wealthy countries ‘ markets are tools with only a limited ability to trigger growth , especially in the poorest countries (Birdsall , Rodrik Subramanian 2005 . The tremendous amount of energy and political capital expended on these efforts in official circles threatens to crowd out attention to other ways in which rich countries could do less harm and more good

The World Trade Organization (WTO ) was formed in 1995 at the Uruguay Round of talks on the General Agreement on Tariffs and Trade (GATT (Labonte 2002 . The GATT was a non-enforceable , multilateral agreement aimed at decreasing import tariffs and export or production subsidies that impeded global trade in goods . The WTO is the only multilateral (supranational ) organization with enforcement powers (either trade sanctions or fines . It administers 29 different trade , investment and `trade-related ‘ agreements , including the former GATT , and several new agreements such as the General Agreement on Trade in Services (GATS the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS , the Agreement on Agriculture , the Agreement on Trade-Related Investment Measures (TRIMS ) and the Agreement on the Application of Sanitary and Phytosanitary Measures (SPM (Labonte 2002

The experiences of many developing countries confirm the importance of specific internal factors . Like Vietnam , neither China nor India the two emerging superstars of the last quarter century-has benefited from trade preferences (Birdsall , Rodrik Subramanian 2005 . And neither has received much foreign aid compared to countries in Africa and Central America . But by enacting creative domestic reforms , China and India have prospered , and in both countries poverty has plunged

On the flip side , many African countries have been unable to match Vietnam ‘s success , despite being no poorer or more agrarian (Birdsall Rodrik Subramanian 2005 . True , education and health indicators have improved markedly in Africa , and some of its countries have achieved macroeconomic stability . But even in the best-performing countries growth and productivity remain modest , and investment depends completely on foreign aid infusions . It may be tempting to ascribe the rare African successes Botswana and Mauritius , for example to high foreign demand for their exports (diamonds and garments , respectively , but that explanation goes only so far (Birdsall , Rodrik Subramanian 2005 Obviously , both countries would be considerably poorer without access to markets abroad . But what distinguishes them is not the external advantages they enjoy but their ability to exploit these advantages Natural resource endowments have often hurt many developing countries the word “diamond ” hardly conjures… [banner_entry_footer]

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