Author Question: Various agencies that have great impact on world business operate under the United Nations. Name ... (Read 131 times)

Pea0909berry

  • Hero Member
  • *****
  • Posts: 573
Various agencies that have great impact on world business operate under the United Nations. Name these organizations and describe the purpose of each.

Question 2

Explain what the General Agreement on Tariffs and Trade (GATT) is and give pro and con arguments concerning this agreement.



apple

  • Sr. Member
  • ****
  • Posts: 352
Answer to Question 1

The World Bank: its purpose is to end poverty by encouraging development; it loans money to the poorest countries on favorable terms.
The International Monetary Fund: its purpose is to foster worldwide economic growth and financial stability.

The World Intellectual Property Organization: its mission is to promote the protection of intellectual property--patents, copyrights, trademarks, and industrial design.

The UN Commission on International Trade Law: it aims to harmonize international business law by proposing model legislation on such topics as international payments and e-commerce; was responsible for putting forth the UN Convention for the International Sale of Goods (CISG) and the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention).

Answer to Question 2

GATT refers to the General Agreement on Tariffs and Trade. The general purpose of GATT is to eliminate trade barriers between signatory countries and to bolster commerce.


Proponents of GATT claim that the United States will be a primary beneficiary since this country has imposed lower duties than most other countries. Accordingly, the U.S. will be able to compete on a more level footing with foreign competitors. The result will be a great increase in world trade and greater income for this country.



Opponents of GATT argue that the United States will lose millions of jobs since labor-intensive goods will be made via exploited labor in foreign countries. Given the low cost of production, American companies will not be able to compete. Additionally, opponents claim that domestic job losses will be in low-end employment, so those put out of work are the ones least able to find alternative employment.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

For a complete list of videos, visit our video library