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WTO

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Issue:

Social Issues

 

Written by:

Lisa N

 

Date added:

February 17, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1358

 

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451 times

 

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Essay content:

W. 2002). As we can see, the rules of trading are simply set as guidelines and cannot guarantee a certain outcome for each individual agreement between countries. There are five main rules that the WTO depends on to operate smoothly on a daily basis and they are as follows: nondiscrimination, reciprocity, enforceable commitments, transparency, and safety valves...
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First, we will look at nondiscrimination. There are two main concepts to understand when looking at the nondiscrimination rule: Most Favored Nation (MFN) and National Treatment Principle (NTP) (Hoekman, B. 2001). MFN involves one country, usually a larger, more developed country, deciding that it wants to trade with another country, usually a smaller country, and give them certain benefits that other countries might not get because the bigger country doesn't like them as well...
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