This topic contains a solution. Click here to go to the answer

Author Question: What is the purpose of the WTO? Give an example of the type of issue that might come before this ... (Read 43 times)

nramada

  • Hero Member
  • *****
  • Posts: 580
What is the purpose of the WTO? Give an example of the type of issue that might come before this organization.
 
  What will be an ideal response?

Question 2

Explain some of the benefits and challenges faced by American businesses because of America's membership in NAFTA.
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jaykayy05

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

Answer: The goal of the World Trade Organization is to help countries conduct trade through a system of rules. It plays a role in monitoring, promoting, and protecting global trade.
The WTO ruled that the European plan maker Airbus received improper European Union subsidies for the A380 super jumbo jet and several other airplanes, hurting its American rival, Boeing.

Answer to Question 2

Answer: Together Canada, the United States, and Mexico comprise the second largest trading bloc in the world. Goods travel freely among the three nations without tariffs or quotas, thereby making consumer goods more competitive relative to goods from countries not in NAFTA. U.S. businesses can take advantage of lower wage rates in Mexico, again making their products more competitive in both the domestic and global markets.
On the other hand, significant cultural differences exist between the U.S. and Mexico. Mexico is high in uncertainty avoidance and power distance while the U.S. is low in both. The U.S. is an individualistic culture but Mexico is collectivistic. As a result, American managers may have some difficulty relating to the Mexican workers.





 

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

For a complete list of videos, visit our video library