Any country which becomes a member of the World Trade Organization commits to the principle of Preferential trade arrangements (PTAs) which means they should not discriminate in favor of one country when trading and should use same tariffs and conditions for all WTO members, this principle allows for Free Trade and the promotion of global trade. Having said that, what do you think are the effects of Regional Trade Blocs on the WTO since these blocs discriminate in favor of their region against other countries?
Any country which becomes a member of the World Trade Organization commits to the principle of Preferential trade arrangements (PTAs) which means they should not discriminate in favor of one country when trading and should use same tariffs and conditions for all WTO members, this principle allows for Free Trade and the promotion of global trade. Having said that, what do you think are the effects of Regional Trade Blocs on the WTO since these blocs discriminate in favor of their region against other countries?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Any country which becomes a member of the World Trade Organization commits to the principle of Preferential trade arrangements (PTAs) which means they should not
discriminate in favor of one country when trading and should use same tariffs and conditions for all WTO members, this principle allows for Free Trade and the promotion of global trade. Having said that, what do you think are the effects of Regional Trade Blocs on the WTO since these blocs discriminate in favor of their region against other countries?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON