Homework 6 - International Trade Business Environment(Econ...

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International Trade & Business Environment, (Econ 300) Homework 6 (30 points) Robert Thomas International Econ Research Task 1. Clearly enumerate the main objectives of the World Trade Organization (WTO)? (Use the WTO webpage , to find the relevant information) List the names of the most recent WTO members. Is China a member? Is Taiwan a member? (10 points) The world trade organization has many responsibilities and duties. Many of which have a large impact on how trade in the world is orchestrated and regulated. One of the main jobs that the WTO has is (1) administrating trade agreements. Without a regulator at the forefront, many trade guidelines and agreements could become vague and disputable and this leads to the WTO’s next responsibility of (2) handling trade disputes. The WTO is vital to maintaining equilibrium between trading countries and groups and makes it possible for trade to exist globally. The next duty of the WTO is acting as a (3) forum for negotiations between countries discussing possible trade. This plays in to the their job of handling disputes because without a forum for negotiation
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