Question

Please respond to the questions below 1. Why are safeguards an essential part of most trade agreements? What are countervailing and antidumping duties, and what must a country demonstrate to impose them? 2. What were the terms of China's admission to the WTO, and has its admission been good for China and the WTO? Why is Russia still not a WTO member? What are some of China's and Russia's trade conflicts with the West today? 3. What are the similarities and differences between GATT and the WTO? What are the competing explanations for the Doha Round problems, and which explanations do you think are the most plausible?

Answer 1

@ Why are safeguards an essential part of most trade agreements? What are countervailing and antidumping duties and what must a country demonstrate to impose them? Safe guarde. add flexibility to trade agreements. The - oretically, this flessibility can impover welfare by making the trade agreement more responsive to a constantly changing economie environm- -ment. Alternatively, it can reduce welfare by undermining the Credbibility of the agreement. Anti-dumping (AD) and countervailing dutier (CVD) are intended to protect the U.S... manufacturing industry from foreign manufacturers. Dumping occurs when foreign manufacturen sell google in the U.S. at less than fair value. Countervailing cases are when a foreign government provides enough subsidies and tax benefits for their manufacturers to sell their goodle more cheaply than U.S. manufauetuces Both of these situation, dumping and countervailing, lead to foreign under cutting of U.S. manufacturer's prices.

How are theve dutien delen måned ? Anti-dumping duties are calculated at a company - - Specific level, where the actual dutiny amount maken up for the gap between foreign manufacturer pricing and fair market value. . . countervailing duties are determined on a country - Specific level, and the duty orale counter act the subsidy or foreign government assistance's value to exactly level the playing field. Petitioning - The U.S. International Trade Commission and the U... Department ģ commence oversee anti-dumping and countervailing duties. Manufacturers or companies can file petitions to these two bodies if they find a foreign manufacture selling under face market value or a foreign government subsidizing manufacturers. These Petition will need to include: - General Information - Description of imported goode, the exportere, and the importens - Subsidy and price information - critical circumstance information - Injury Information

① What were the terms of China's admission to the WTO, and has its admission been good for China and the WTO why is Russia still not a wło member? what are some of China's and Russia's trade conflicts with the west today? - Chine became a member of the world Trade Organization (WTO) on 11th Dec 2001, after the agreement of Ho Ministerie Conference. The admission of china to the wło was preceded by a lengthy process of negotiation and required significant change to the Chinese economy. 1 until the 1970's China's economy was managed by the Communist government and was kept closed from other economies. Together with political reforme, chine in the early 1980's began to open its economy and signed a number of regional trade agree- -ments. Chaina gained observar statue with GATT and from 1986, began working towarda joining that organization. After china joined the WTO, its selenice sector was considerably liberalized and foreign investment was allowned, its restrictions on retail, wholesale and distribution ended. Bancing financial secnices, insurance and telecommunication in China were also opened up to foreign investment. Furthermore, China had to deal with certain concerne linked to transparency and intellectual properly that the accession to wło underlined.

Russia becomes wło member after 18 years of talks. Russia wae by far the biggest economy yet to join the global trade body. It is also the last member of the Group of 20 major economieu to join, after chine gained membership in 2001 The removal of trade barrien is likely to stimulate greater and more diversified trade between Russia and the rest of the world. C Eonomic relation between Russia and chine are rapidly expanding, and some experts have cited these tiee au evidence of a growing closen ces between the two countries. The history of relation between the two countries is fraught, and they play vastly different roles in the world economy, making a divergence in their objectium all but unavoidable. ☺ what are the similaritine and difference between CATT and the wło? What are the competing explanation for the soha Round Roblems, and which explanation do you think are the most plausible ? 1. The rule of GATT are only for trade in goods. The ruler of wio includes service and aspects of intellen Property along with the goods.

Its agreement an originally multilateral, but plurilateral agreement are added to it later. Its agreements are purely mulli lateral. 1. The main reason the Doha talks collapsed was that the United States and EU weren't willing to give up their agricultural subsidies. But other sticking points must be resolved if the talks are to resume first, chine, India and Brazil need to be more supportive of the talks.. 1. The main reason the Doha talks collapsed was that the United stater, and EU weren't willing to give up their agricultural Subsidies.