Backwaters of Global Prosperity: How Forces of Globalization by Caf Dowlah

By Caf Dowlah

Filenote: disguise is praeger goldy brown from ebsco (not hardback hide) PDF has 220 pages.
Publish yr note: initially released in 2004
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Marginalization of the world's poorest international locations has been transforming into because the Eighties; this paintings will get to the guts of the problem through analysing the entire elements concerned From direct overseas funding to the circulation of capital, there are unending elements that impact the economies of the world's poorest nations. wisdom of the struggles of those international locations, sometimes called the Least built nations (LDCs), is vital to figuring out the impression of globalization. This paintings presents a platform for figuring out why built nations are reaping some great benefits of globalization whereas the LDCs are being left at the back of.

Topical chapters search to discover the methods that LDCs may still take to opposite their marginalization and construct their economies with a view to obtain the advantages of globalization. topics contain: the connection among the area exchange association, international financial institution, and the foreign financial Fund; multilateral alternate regimes; tariff and non-tariff obstacles in constructed nations; international commodity costs; tendencies in poverty and human improvement; expertise. Analyzes why globalization is failing to paintings for poorer international locations Discusses the position of companies equivalent to the realm financial institution and IMF in marginalizing bad nations

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Extra resources for Backwaters of Global Prosperity: How Forces of Globalization and GATT/WTO Trade Regimes Contribute to the Marginalization of the World's Poorest Nations

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Niger 35. Rwanda 36. Samoa 37. Sao Tome and Principe 38. Senegal 39. Sierra Leon 40. Solomon Islands 41. Somalia 42. Sudan 43. Tanzania 44. Timor-Leste 45. Togo 46. Tuvalu 47. Uganda 48. Vanuatu 49. Yemen 50. 5 280 270 250 — 490 330 122 156 175 138 160 141 147 128 148 — 7 5 4 6 2 2 2 4 3 6 7 4 — 6 1 5 2 5 4 151 121 111 103 — — 72 134 — — — 98 — 134 — 48 — 131 118 Sources: Population, surface area, population density, and gross national income data for the year 2002 are obtained from the World Bank/Oxford University Press (2003b), World Development Report, 2004.

Although the WTO continues the member-driven and consensus-based decision making approach, following the GATT tradition, many loopholes that blocked multilateral decisions, especially dispute settlement mechanisms in good old GATT days, have been eliminated. So far, five ministerial conferences took place under the WTO, and all were overwhelmingly participated in by developing country members, in sharp contrast to the GATT days when they were mere onlookers to MTNs. Trade Regimes under the GATT/WTO 33 MULTILATERAL NEGOTIATIONS A N D AGREEMENTS U N D E R THE GATT The First Seven Rounds As the following list shows, there had been eight rounds of MTNs under the GATT: the first round, held in Geneva in 1947 and participated in by 23 countries, established the GATT; the second round, held in Annecy (France) in 1948, was participated in by 29 countries; the third round, held in Torquay (England) in 1950, was participated in by 32 countries; the fourth round, held in Geneva in 1955-1956, was participated in by 33 countries; the fifth round, called the Dillion Round, held in 1960-1961, was participated in by 39 countries; the sixth round, called the Kennedy Round, held in 1964-1967, was participated in by 74 countries; the seventh round, called the Tokyo Round, held in 1973-1979, was participated in by 99 countries; and the eighth and final round, called the Uruguay Round, held in 1986-1994, was participated in by 117 countries.

Estimated benefits of such tariff concessions ran into billions of dollars per year—the tariff cuts of the Dillion Round alone were estimated at $5 billion. But a real breakthrough in tariff cuts came at the Kennedy Round, when participating countries agreed to an average tariff cut by 35 percent, in addition to binding tariffs on 33,000 tariff lines. 7 percent (Das 2000, 183-84). The Tokyo Round also further widened the GATT coverage on NTBs—it reached agreements on scores of trade-related issues, including subsidies and countervailing measures, technical barriers to trade (TBT), import licensing procedures, antidumping laws, and government procurement.

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