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DSST Business Ethics and Society-Study Guide 2

Establishes water quality standards and enforces the

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Establishes water quality standards and enforces the Clean Water Act Companies obtain permits from EPA to discharge pollutants into navigable waters, and prosecutes violators North American Free Trade Agreement or NAFTA – agreement signed by governments of the US, Canada, and Mexico creating a trilateral trade bloc in North America. The goal of NAFTA was to eliminate barriers of trade and investment between the USA, Canada and Mexico . It superseded the Canada-United States Free Trade Agreement between U.S. and Canada. In terms of combined purchasing power parity GDP of its members, as of 2007 the trade block is the largest in the world and second largest by nominal GDP comparison. NAFTA has two supplements, the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Labor Cooperation (NAALC). The implementation of NAFTA on January 1, 1994, brought the immediate elimination of tariffs on more than one half of US imports from Mexico and more than one third of US exports to Mexico. Within 10 years of the implementation of the agreement all US-Mexico tariffs would be eliminated except for some US agricultural exports to Mexico that were to be phased out in 15 years. Most US-Canada trade was already duty free. NAFTA also seeks to eliminate non-tariff trade barriers and publisher. World Bank is the main institution responsible for lending capital for development projects; an international financial institution that provides leveraged loans to developing countries for capital programs. Basically, it provides loans and technology assistance to member countries The World Bank has a stated goal of reducing poverty and encourages international trade . The World Bank differs from the World Bank Group, in that the World Bank comprises only two
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institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), whereas the latter incorporates these two in addition to three more: International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID). KEY FACTORS – The World Bank sees the five key factors necessary for economic growth and the creation of an enabling business environment as: Build capacity : Strengthening governments and educating government officials. Infrastructure creation : implementation of legal and judicial systems for the encouragement of business, the protection of individual and property rights and the honoring of contracts. Development of Financial Systems : the establishment of strong systems capable of supporting endeavors from micro credit to the financing of larger corporate ventures. Combating corruption
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