Note: Sample below may appear distorted but all corresponding word document files contain proper formattingExcerpt from Term Paper:
The WTO Secretariat is based in Geneva, with around 600 staff members under a director-general. The main functions of the Secretariat include technical support for the WTO councils and other bodies, technical assistance for developing countries, world trade analysis, and liaison between the WTO and the public and media. The Secretariat can also provide legal assistance for dispute settlements, and advice to governments applying for membership in the WTO.
The World Bank
The World Bank was created during World War II at Bretton Woods, New Hampshire. Its initial function was to help in the rebuilding process after the War, with its first loan to France in the amount of $250 million. Post-war reconstruction efforts were followed by aid efforts for events such as natural disasters, humanitarian emergencies, and post-conflict rehabilitation. While these continue to be a prominent part of the World Bank's function, its main effort today focuses on poverty reduction.
After some inquiries relating to the quality of the Bank's operations during the 1980s, the Wapenhaus Report resulted in reforms such as an Inspection Panel. The function of the Panel is to investigate claims against the Bank. The Bank Group has also worked to improve efficiency and effectiveness, and to improve service, commitment, delivery and quality.
Structurally, the Bank's staff of engineers and financial analysts were based in Washington, D.C. Its staff today has diversified to include economists, public policy experts, sectoral experts, and social scientists, of which 40% are based in offices around the country. The Bank itself has also expanded to a much more complex structure than its initial form. The World Bank now consists of a Group of five development institutions. These include the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Center for Settlement of Investment Disputes (ICSID).
Currently, the most important role of the World Bank is in the area of global policy, including post-conflict work, post-crisis assistance, post-hurricane clean-up and post-earthquake support to various regions around the world. In addition, the Bank is continually concerned with updating its policy to meet the demands and challenges of development today.
4. Economic Growth, Development and Third-World Countries
Economic growth is measured by the gross national product (GNP) of a country. If this rises, it means that a country's per capita income is growing, and economic growth takes place. There are a variety of factors that influence economic growth. Political factors may for example influence economic growth favorably or unfavorably. If a country is politically unstable, for example, the country's relationship with other countries is influenced detrimentally, and it is unlikely that the economy will grow positively. The most recent example of this is Iraq and the associated American war on terrorism.
Other factors that influence economic growth is a country's assets and its existing poverty level. A high poverty level tends to perpetuate the already existing poverty, and economic growth does not take place. Assets such as minerals and agriculture influence foreign investment in the country. A high percentage of these will also be a factor in the country's economic growth.
Economic development is a wider concept than economic growth. This is measured by a variety of factors within a country that relates to human well-being in terms of wealth as well as health. Literacy rates, life expectancy, birth and death rates, unemployment statistics and poverty levels are some of the measures used to determine the level of economic development in an economy. High rates of literacy and employment would for example indicate a high level of economic development. In third-world countries, literacy and employment rates are generally low, whereas birth and death rates are high, as is the poverty level. This indicates a low level of economic development.
The most significant difference between third-world and industrialized countries is economic: Industrialized countries have a higher GDP than third-world countries. The birth and death rates in industrialized countries also tend to be lower than those in third-world countries. Another significant factor is that elements influenced and perpetuated by poverty. One such element is the ecological well-being of a country's agricultural and natural heritage sites. Industrialized countries have the expertise and funding to care for natural habitats, fauna and flora. In third-world countries, the nutritional needs of growing populations often force farmers to exhaust vast areas of land, causing further degradation, hunger and poverty.
In this way, the need created by poverty in the first place, perpetuates the cycle of poverty and hunger. In industrialized countries, existing resources are poured into conservation and sustainable growth, which in turn facilitates economic growth and development. For this reason, efforts are made by developed countries to assist third-world countries in breaking the devastating cycle of poverty and uplift themselves to achieve sustainable growth.
The International Monetary Fund. Globalization: Threat or Opportunity? 2007. http://www.imf.org/external/np/exr/ib/2000/041200.htm
The World Bank Group. World Bank History. 2007. http://go.worldbank.org/2GIYUD9KB0
World Trade Organization. The WTO in Brief. 2007. http://www.wto.org/english/thewto_e/whatis_e/inbrief_e/inbr00_e.htm[continue]
"Globalization Is A Phenomenon That" (2007, July 05) Retrieved December 3, 2016, from http://www.paperdue.com/essay/globalization-is-a-phenomenon-that-36845
"Globalization Is A Phenomenon That" 05 July 2007. Web.3 December. 2016. <http://www.paperdue.com/essay/globalization-is-a-phenomenon-that-36845>
"Globalization Is A Phenomenon That", 05 July 2007, Accessed.3 December. 2016, http://www.paperdue.com/essay/globalization-is-a-phenomenon-that-36845
Globalization is a concept that has become associated with the information age. With the advancement of computers, Internet and communication techniques, the world has become an increasingly smaller place in terms of information and communication. E-mail and newsgroups for example has made instant communication possible for people from anywhere on the globe. Information regarding foreign countries, their customs, and policies has also become as easy as typing the appropriate term
Globalization Position on Globalization Globalization is a trend towards a more integrated global economic system that is driven by the reduction of trade and investment barriers by technology and other factors. Is important to note that globalization is not exactly a new phenomenon. As soon as the transportation technology developed to a sufficient level to move around various goods then international trade quickly emerged. The first ships that traded spices and various
Apple, for example, outsources much of their production to a vendor known as Foxconn in China whose working conditions are so severe that the company has actually installed a suicide prevention netting around their buildings to keep employees from jumping to their deaths. Hebron & Stack have pointed out that Nobel Prize winning economist Joesph Stiglitz has identified one of the attributes of what improves the quality of life
economic environment, simply defined, Globalization is "a phenomena by which economic agents in any given part of the world are much more affected by events elsewhere in the world." (Wolf, 2004) Globalization also "refers to the process of increasing social and cultural inter-connectedness, political interdependence, and economic, financial and market integrations. Globalization makes alliances an integral part of a firm's strategy to better satisfy customers and to achieve sustainable
They might only be more efficient when externalities are not considered, but in the real world of globalization externalities are important. Understanding what to do about these problems and how to take advantage of the opportunities presented by globalization requires a strong understanding of what globalization is, and even that remains a point of some contention. Works Cited: Higgott, R. & Reich, S. (1998) Globalisation and sites of conflict: Towards definition
India was also part of this globalized trading world. The cities within the Indus Valley were well planned and included a trading system that was managed much in the same way as that in the Middle East. Indian socialism, combined with an economy of private managers played a significant role in the success of their trading endeavors. Moore & Lewis note that ancient India could well have been the inventor of
The thesis of the article is that the United States cannot and will not remain satisfied with the current status quo, but would rather attempt to improve the system it is part of in the future. If one looks at the example that globalization gives, this is certainly true. In many ways, the United States has led the technological and economic progress for the past couple of decades and globalization,