World Trade Organization (WTO) Dispute Resolution

Paper Summary:

This paper attempts to understand the role of the WTO in dispute resolutions. It looks at the extent to which the verdicts of the WTO are put into effect, thereby justifying its existence. By reviewing an article published in The Economist, (03-04-2000) "Trade: A tussle over tax." Vol. 354, the paper determines the actual role of the WTO. It focuses on how the author of the article creates the view that the U.S. power does not allow the WTO to be as independent as it should be. This is illustrated through the case study of the complaint lodged by the EU against the U.S. tax laws.

From the Paper:

"Disputes are common amongst the international communities as nations strive to create a society where their own citizens can live in the best manner possible. At times this need to strive for success creates a dispute as one nation or another does not define progress and success in the same manner as the other. In order to resolve these disputes no matter how petty we have organizations like the World Trade Organizations (WTO) that were created after the world saw and was aghast at the destruction of World War II. To avoid another widespread war these organizations negotiate, mediate and arbitrate between the various stakeholders and try to come to a peaceful solution. Yet, with the number of disputes rising people have begun to question the effectiveness of such organizations. Considering that the current international relations scenario is based on economics and trade and key words like Globalization are the basis of progress it would seem that the WTO would have an integral role to play. Yet, many fear that the effectiveness."

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