Why Is The Dispute Settlement Body Of The Wto So Important? Does Experience Suggest That Big Players Can Ignore The Rules?

1646 words - 7 pages

The Dispute Settlement mechanism of the World Trade Organisation (WTO) came into effect in 1995 with a new rules-based system enforcing all WTO members to adapt the same basic standards for global trade. However, the champions of free trade: the US (United States) and the EU (European Union) have both been found guilty of protectionism on separate accounts despite having proclaimed to be ardent protagonists of a rules-based trading system. Several disputes have arisen with the result of WTO intervention where the so called 'big players' have violated agreements and trade rules, instigating punitive measures. Four controversial cases I am going to talk about involve leading members of the WTO (the EU and the US) having decided to ignore its rulings and resulting in WTO intervention. These cases have displayed political drive as well as protectionist motives and demonstrated the use of the Dispute Settlement Body: Firstly the situation of President Bush's decision to impose tariffs due to the US' ailing steel industry, secondly and most recently the US' controversial illegal export subsidies. Two more cases this time highlighting the EU's failure to adhere to WTO ruling are its refusal to run scientific tests on hormone treated meat case in 1999 and the banana export dispute in 1997 between the US and the EU.The DSU (Dispute Settlement Understanding) is a very important entity of the WTO- it can be seen as the body that gives substance to the agreed trading rules of the WTO: The ICC describe it as 'a cornerstone of the multilateral trading system '. The rationale behind this system derives from a rules-based system- the rules defined by the WTO must be complied with by its members or else trade sanctions in the form of duty increases or suspension of WTO obligations are implemented. This helps members avoid trade wars- in fact so far the EU has regularly turned to the DSU to solve important disputes. This deterrent is an essential feature of the World Trade Organisation since it ensures members respect their commitments and guarantees equal treatment. The benefits of this mechanism also include the expeditious nature of the system which contributes to its effectiveness. Furthermore the DSU mechanism is a multilateral system which saves the smaller countries from losing out due to unilateral action.Recently the Dispute body of the WTO has experienced the most politically-driven case it has been approached with yet, leading the US to ignore WTO standards in order to rally support in the mid term presidential elections. In March 2002 the US imposed severe restrictions on the steel industry with import tariffs as high as 30 % from the rest of the world in order to give its ailing industry some time to restructure and cut costs, benefiting key steel producing states such as Pennsylvania and Ohio. The European Union Trade Commissioner Pascal Lamy referred to this as 'Unfounded, unnecessary and unfair US action ' consequently forcing the EU to take the...

Find Another Essay On Why is the Dispute Settlement Body of the WTO so Important? Does Experience Suggest that Big Players can Ignore the Rules?

Refer to Poem 327 "Before I got my eye put out". How far and in what ways does Emily Dickinson make the experience of sight seem powerful and important?

1045 words - 4 pages , Dickinson has shown her remarkable ability to sympathise with the varied challenges that people experience in their lives. It is this ability that makes her poetry as a whole so vivid and emotional. Her skilful use of syntax, hyperbolae and imagery conveys the power and importance of sightBibliographyMcNeil, Helen ed., Emily Dickinson: Everyman's Poetry, Orion Publishing Group, 1997Merriman, C.D., Elizabeth Barrett Browning (1806-1861) URL: http://www.online-literature.com [17 January 2007]

Philosophy Essay: Does it make sense to say individuals can create their own moral rules?

1374 words - 5 pages this does not solely rely on our individual attitudes. Contrastingly, moral subjectivism generally holds the view that morality is subject to our personal attitudes and there is no moral reality. On this view it may seem, that it makes sense to say that individuals can create their own moral rules, but I will now expose the problems associated with both normative and meta-ethical branches of moral subjectivism.So let us then uphold the view, that it

Does all knowledge come from experience? I f not where does it come from? If so, how do you explain our knowledge of necessary truths?

1532 words - 7 pages difficult to imagine the concepts of time and causation existing if we could not observe them in the outside world and it is therefore not certain whether any of these truths would be such if they were not experienced in the outside world; the fact that they do exist in the outside world is what makes these truths necessary. This suggest that they come from experience and not a priori it is only the fact that we learn these truths so early on in

BOEING VS AIRBUS: THE ONGOING WTO DISPUTE

3643 words - 15 pages could also end up as a (partial) loser in this dispute. The WTO could rule that the subsidies have to be repaid. At the very least, it is unlikely that there will be a clear winner, given the huge amounts of aid both sides have received. The bottom line is that neither side can win this conflict.In this regard, it is also questionable whether subsidies would really be reduced following a WTO ruling.Boeing and Airbus have long since ceased to be pure

Why is the resurrection so important to christian faith

1013 words - 4 pages Question: Why is the resurrection so important to Christian faith?Even now, 2000 years after his death Jesus Christ is followed and looked up to. But perhaps more important than what he said was what he did. His actions were amazing, superhuman even, but eventually led to his crucifixion. It was after his death that Jesus performed his most amazing deed. He was put in his tomb on Friday, on Sunday three female friends went to embalm him... and

Why is the ability to exploit economies of scale so important in mature industries?

2009 words - 8 pages exploit economies of scale due to the increased standardisation that accompanies the industry, this is especially important as return on investment and market share are stronger here than within emerging industries.Many mature industries can benefit from capacity utilisation with some requiring high utilisation levels before investment in additional capacity will be authorised. Economies of scale can also be secured by establishing relationships

An explaination of the 1st admendment and why it is so important.

570 words - 2 pages Public demonstrators lock arms, hold up signs, and chant. They are protesting any number of issues that seem to plague our nation. They cry out that our government is corrupt, that we should do away with it. In many other countries, government officials would have arrested and thrown these mere protesters in jail. Yet, it the land of the free, and home of the brave, they are allowed to continue so long as they are peaceful and cause no harm to

Does the difficulty of detecting manipulations in futures market suggest that it is not worth trying to regulate such markets?” Discuss

1062 words - 5 pages cases could be declared not guilty. The need to have a unified definition is important so that a unanimous decision can be made in each case and the key concepts and measures that underlie these decisions will not be undermined. To conclude, manipulation of futures market might not be easy to spot, however there is a need for the regulatory bodies to continue to monitor the market because having an organized market brings confidence to the market

'Why is it so important for academics and marketing managers to understand the impact of external influences on consumer behaviour?'

2157 words - 9 pages to divide the market into segments, so that they can examine certain areas more closely. It has been claimed that there are five main determinants of external influences: situation, family, culture, social class and personal influence. This essay will try to assess the reasoning behind why these factors need to be considered by academics when investigating consumer behaviour.Marketers are looking for quick easy solutions for finding marketing

To Ignore The Feast

1355 words - 5 pages that anorexics say they are almost always in constant competition with each other. "Among some people struggling with anorexia is a competition with other anorexics. I see it in the hospital units and in the high schools and on the college campuses. Chronic anorexics can pick another anorexic out of the crowed in a heartbeat." Said Professor James Hernway. Anorexics say they look to see who is the thinnest in the room, which person is "winning

Why did the Big Three after WWI disagree so strongly?

997 words - 4 pages their own revenge. Because of his farsightedness, George was able to see what Wilson and Clemenceau could not.The main reason why the three countries' leaders had such disagreed so strongly during the conference was the effect Germany had on them. Because Germany had caused so much distress for France, it was only natural that they would have a very heated response towards Germany and wish to see them severely punished. On the other hand, Wilson

Similar Essays

Body Image. An Essay Which Involves Discussion Of Why Body Image Is So Important To Society In The Present Times.

1198 words - 5 pages himself. As a result, boundaries may be unclear or unformed. This could cause the person to have difficulty getting a true sense of his or her body shape and size.Now a days, you can be whatever you want to be, any dream can be achieved as long as you do what you have to do in order to get it. We live in a world full of opportunities. With all the freedom that women have they still remain obsessed with body weight. Women are confined to a false

Case Name: I Premier Case 1. Issue Identification. 2.What Do The Facts/Issues Suggest, And Why Is It Important To Consider The Issues You Raise? 3. What Does Your Analysis Suggest Should Be Done?...

1318 words - 5 pages . Additional line of defense should be created by installing prevention software that can prevent the breach of iPremier's architecture from such hacking incidents. � In the aftermath of the attack, the most important thing to be worried about is what sort of customer information, if any, was compromised by the attack.� Did the attackers actually access and delete/change/steal vital information, or did they simply shut down the company's

Wto Dispute Settlement Understanding: Case Studies

1339 words - 6 pages Trade. New York, NY: Routledge. WT/DS243/8. (2003, July 21). United States - Rules of Origin for Textiles and Apparel Products - Panel Report - Action by the Dispute Settlement Body. Retrieved from World Trade Organization: https://docs.wto.org/dol2fe/Pages/FE_Search/FE_S_S006.aspx?Query=(@Symbol=%20wt/ds243/*)&Language=ENGLISH&Context=FomerScriptedSearch&languageUIChanged=true#

Learning Is A Permanent Change In Behaviour Caused By Experience. The Learner Does Not Need To Have The Experience Directly; We Can Also Learn By Observing Others .

1123 words - 4 pages LearningLearning is a permanent change in behaviour caused by experience. The learner does not need to have the experience directly; we can also learn by observing others .It is an ongoing process. Our knowledge of the world is continually being revised as we are exposed to new stimuli and receiving ongoing feedback that allows us to modify our behaviour when we find ourselves in a similar position againPsychologists who have studied learning