What Does Wto Do?

MGT 448

If the unemployment rate drops below 5% than business are doing bad.

Globalization of markets means that company in another country gets to sell your product worldwide

Globalization of production means that outsourcing.

WHY?

To lower cost, Maximize shareholders equity, labor (affordability, quality)

Trade barriers= tariffs (rates)

What does WTO do?

What does IMF Do?

WHO APOINTS THE DIRECTOR OF THE IMF? FRANCE PRESIDENT

WHO APOINTS THE DIRECTOR OF THE WORLD BANK? USA PRESIDENT

A protective tariff is used to raise the price of imported goods as a protective measure against the competition from foreign markets. A higher tariff allows a local company to compete with foreign competition.

Tariffs are individual products

When no tariff or other restrictions are placed on imported goods, it is called free trade. Some people consider free trade to allow increased economic growth potential. Others counter that the removal of tariffs to permit free trade only makes the economy have to depend on global markets rather than increase the stability of domestic markets.

What is FDI= Foreign countries investing in other countries for return on investments

Definition of 'Foreign Direct Investment - FDI'= An investment abroad, usually where the company being invested in is controlled by the foreign corporation.

USA IS A DEVELOPED COUNTRY

Market economies= is all the product and services are provided by private companies

Command economies= all serviced are produce by government and provide to the people

Mixed economies=

Common law (Britian)=SOCIAL VALUES OF THAT COUNTRY

Civic law (USA) LAWS AND REGULATION THE PEOPLE OF THE COUNTRY UNDERSTANDS

Theocratic law (Iran)

CONSIDERATION IS SOMETHING OF VALUE

Patents = good for 13 years

Copyrights =good for ( taking owner ship of something you mad or own)

Trademark

Zero sum gain= you have gold or silver you have to do bad and I do good.

Where are we on corporate and personal taxes compared to other countries?