Examine the perspective that membership of the World Trade Essay

Examine the perspective that membership of the World Trade Organisation is beneficial for developing countries - Essay Example About two thirds of WTO’s around 150 members are developing countries (Rena 2012, p.77). Doha Round was launched mainly to address the needs and interests of Third World countries. The Least Developed Countries (LDCs) significantly contribute to the growth of the global economy because trade is an important tool for their development strategies. There is need to determine whether WTO membership benefits the developing countries or it just undermines the development in these countries. This paper explores whether the universal rules and regulations governing trade established by the WTO on the basis of free trade principles assist the developing countries. Indeed, WTO membership has enabled many developing countries involved to improve trade and develop. Some of the benefits of WTO membership that this paper will discuss include peacekeeping, economic growth, and increase in income. Notably, the WTO started operating in 1995 under the Marrakech Agreement as a replacement of the General Agreement on Tariffs and Trade (GATT) that was developed in 1948 after the Second World War (Rena 2012, p.78). GATT was based on a series of trade negotiations with different themes known as rounds that aimed at reducing tariffs, non-tariff barriers (NTB) like quotas, embargoes and dumpling which were flooding foreign markets with commodities that cannot be sold domestically. Currently, the Doha Round launched in 2001 has been a long process with little progress because of differences of interests and perspectives between the developed and developing countries. This trade negotiation was developed to ensure that there is equitable participation of the developing countries (Dalal 2012, p.44). The WTO is focused on completing negotiations on the Doha Round to assist in addressing the concerns and interests of the Third World countries. For instance, the Doha Ministerial Declaration adopted in the same year stated that member countries commit

Functions of The Foreign Exchange Dealing Room Essay

Functions of The Foreign Exchange Dealing Room - Essay Example Additionally, there is also needs to assess on what are so special in the foreign exchange market, which can simply explains its interesting aspects before reaching to its functions, with referencing attach to Citibank. Before beginning to discuss about the functions of Foreign exchange dealing room, with sighting referencing with Citibank, there is need in a nutshell to know about the history of the bank as far back to its initial take up. It is found that "On June 16, 1812, with $2 million of capital, City Bank of New York (now Citibank) opened for business in New York City. Through many different leaders and economic environments over the course of its rich history, Citibank continues to grow and prosper. In 1998, all Citicorp divisions merged with all divisions of Travelers Group to form Citigroup Inc. Citibank continue as a strong brand under the Citigroup umbrella". (Citibank NA). Today, the Citibank has about 200 million account customers in more than 100 countries globally. It is ranked in the world Market that Citibank is leading globally in the foreign exchange (citiFX) market, as the team of experts in that field always ensures that they meet the customer's needs. While dealing with the Citibank, it is confirmed that you will be able to get feedback constantly about the issue of foreign exchange, which relates to International, regional and the local market. You will also getting details on the position of current financial market, so one can take immediate decision at the exact time needed. Moreover, it is noted that the Citibank (Customer Advantage) is of great good in terms of attaching customer's priority. According the Bank statement, "Citibank's financial market customer proposition is based on fair pricing, rapid execution, 24-hour delivery and innovative solutions. These services are delivered in the context of long-term relationships that pre-empt new customer needs for liability management, yield enhancement and implementation of market views. Citibank offers a diverse portfolio of products