This website uses cookies to ensure you have the best experience. Learn more

Describe The Impact Of World Trade Organization's Globalization Strategy On Taiwanese Agriculture

1261 words - 6 pages

Introduction:The World Trade Organization (WTO) is an international organization which is devoted to reducing the tariff and contributes to oversee agreements between its members. In 2002, Taiwan joined the WTO. Before that, there were several unusual things happening in Taiwan. For example, people were trying to store the goods and wine and so on. Farmers started worrying about losing their jobs after joining the WTO. However, after joining, the market gradually became stable again and some farmers also found new ways to make a living on their own. The impact on agriculture after WTO entry was enormous and farmers still needed time and government's assistance to go through the transition ...view middle of the document...

However, the future of agriculture needs more detailed estimation and management because agriculture is on of the most basic and vital industries in any country.2. Disadvantages and Advantages of joining the WTO2.1 Disadvantage:Taking The US-Taiwan WTO TRADE Agreement as an example, people have felt several disadvantage as well as advantages. First, the government has less income from the tariff; also, the local companies have to compete with the international corporations by investing more money, supplying more service or developing new products. Third, the widely open market is shared with international companies; as a result, if local companies don't have enough compatibility, they are deserted by customers. Lastly, the agricultural magnitude will be decreased in the modernized and globalizing society. As a matter of fact, the number of farmers is lower than before because fewer people are interested in the agricultural industry nowadays. The majority of labors are working in the manufacturing industry instead of agricultural activities. That is, it has become a trend in new generation. As a result, it is hard to see young men in farming towns. .2.2 Advantages:In fact, there were not only disadvantages in joining the WTO but also coming some advantages. In the beginning, I have observed in the society that consumers have more choices to buy meat or vegetables from Japan, US, Australia, and Malaysia with less expense than before. Consumers can buy stylish imported cars with fewer tariffs and maintain cars with sufficient auto parts. Citizens can ride on the modern express train and tubes imported from the foreign countries and enjoy the most safe and comfortable ride to go to everywhere with faster speed and in less time. In addition, patients are able to get better medication or surgery in hospitals by using the newest machine and updated medicine.2.3 The US-Taiwan WTO TRADE AgreementBefore Taiwan joined WTO, it had been complying with WTO Trade agreement. The US was the largest trade partner in 2000, the volume of trade between the US and Taiwan was 64.8 billion. The US exports to Taiwan were 24.4 billion and imports from Taiwan were 40.5 billion. Those were mostly affected by the US-Taiwan WTO TRADE Agreement in February 1998. However, according to the agreement, Taiwan will open its market to US companies in a range of business. They include service sectors, such as professional service, express delivery service, advertising, wholesale and retail distribution, financial service (banking, insurance, and security) and so on. It also requires that the Taiwanese government reduces tariffs on a wide range of goods and agricultural...

Other Essays Like Describe The Impact Of World Trade Organization's Globalization Strategy On Taiwanese Agriculture

Impact of the World Cup Essay

4084 words - 17 pages have a long history of being used for tourism and recreational activities in both the developed and developing countries. Rural arrears have emerged as a new focus for recreation and tourism activities in the past-war period within most developed countries as their accessibility and attraction for domestic population (Hall and Page 2006:232). The focus of this assay will then be based on the demand, supply and impact of rural tourism

The World Trade Organisation Essay

1400 words - 6 pages THE WORLD TRADE ORGANISATION The World Trade Organization (WTO) was established and incorporated in January 1st 1995 at the amendment of the General Agreement on Tariff and Trade (GATT) in 1994 with the aim of regulating international trade. The creation of this organization clearly underscored the acceptance and commitment of trade liberalization by most of the international communities. Upon signing and ratifying the WTO Agreement, each

The World Trade Organisation

555 words - 3 pages   stalled   unilateral   liberalization  and  fearful  protectionism  in  the  wake  of  the  global  financial  crisis,   and  a  proliferation  of  bilateral  and  regional  trade  agreements.  The  onus  should   be   on   plurilateral   negotiations,   preferably   within   the   WTO   framework   and   one   might   think   that

Impact of Globalization in Malaysia

5854 words - 24 pages that, the intangible assets like trade status under Generalized System of Preferences (GSP), macroeconomic stability, liberal trade regime, and a resourceful legal infrastructure have also been used in order to bring in FDI. The Government of Malaysia’s (GOM) main policy is to bind FDI as a part of the economic development strategy to acquire foreign technology, capital, and skills.  Nowadays, as globalization spread all over the world, most of

The Impact of the Global Economic Crisis on the World Economic Order

772 words - 4 pages The Impact of the Global Economic Crisis on the Arab World The Arab countries had experienced rapid changes in their economic fortunes in the year 2008. During the first half of 2008, oil, natural gas, and other commodity prices continued to rise rapidly, leading to huge gains. At the same time, they had to cope with rapidly rising food and raw material prices that threatened their economies and social stability. By July, the effects of the

Globalization and Its Impact on Humanity

2194 words - 9 pages of other cultures. To sum up, globalization has allowed people to have access to many facilities which was not available to them previously. Globalization impact on Economy: Economy is another improved component of globalization. Globalization has upgraded many economies of the world by facilitating the flow and exchange of goods and services among different countries and promoting long and short distance trade. Opponents of globalization

Describe the impact of McCarthyism on America

407 words - 2 pages During the 1950s, the American people began to develop a fear of internal communist subversion. The Korean stalemate, the "loss" in China, and the development of a Soviet atomic bomb were setbacks in the American battle against communism. Searching for people to blame, the American people were attracted to the idea of a communist conspiracy within American borders. This resulted in the era known as McCarthyism, where the frustration and fear of

Vietnam War's Impact on Australia’s Relationship with the World

1156 words - 5 pages Minister, Robert Menzies called “Our Great & Powerful Friends”. During the World War II when the war broke out in 1939, Australia still saw itself as an important part of the British Empire and immediately declared its support for Britain. On the other hand, there was always the understanding throughout Australia that if the time ever came when Australia needed military support, Britain would come to the nation’s aid. In 1940, the British

The Impact of Globalisation on Multinational Companies

3257 words - 14 pages Table of Contents The Impact of Globalisation on Multinational Companies 2 Introduction 2 McDonalds’ Introduction 3 Globalisation and McDonald’s 3 Globalisation strategy of McDonald 5 1. Think Globally but Act Locally 7 2. Pricing 8 3. Advertising/Promotional strategies 8 4. Social responsibility 9 Challenges for McDonald 10 Conclusion 11 Reference 12 The Impact of Globalisation on Multinational Companies Introduction

The Impact Of The Environment On Health

834 words - 4 pages Summary and List of Undesirable Substances".) The interaction of a human’s genetics will affect the balance of their environment with disease and health. Genetics play an important role on the environment, because of the trigger that reacts to disease. However, gender and age may also affect the interaction with the genetics and environment. The populations are at an increased risk for many diseases with the environmental components, which may

China’S Accession To The World Trade Organization

2192 words - 9 pages China’s Accession to the World Trade Organization After almost 15 years of negotiations, China successfully entered the World Trade Organization on December 11, 2001. In less than three years since its accession, while China’s progress has been somewhat behind schedule, the country has made very significant changes that have helped transition it to a market economy and open the country to the multilateral trading system

Related Papers

The Impact Of The World Trade Center Attacks On New York City's Economy

804 words - 4 pages The Impact of the World Trade Center Attacks on New York City's Economy A study by the New York City Partnership and the Chamber of Commerce estimates that New York City's economy will sustain a gross loss of about $83 billion and lose 57,000 jobs over three years as a result of the World Trade Center attacks. The study, which was released Nov. 15, said even after payment of insurance claims and federal reimbursement for rescue

The Impact Of Globalization On Economic Decisions

542 words - 3 pages account when developing their own competitive strategy” (Farnham, 2014). Several examples of oligopolistic behavior among the rivals of the fast-food industry, including McDonald’s, Burger King, Wendy’s and Dairy Queen, would include price matches, price cuts, cooking styles and menu options. Each organization has had to take into consideration the actions of their rivals and how to relate to their surrounding environments; when to expand

Assessing The Impact Of Globalization On The Caribbean Business Environment

3225 words - 13 pages ? • Distributive impact. How does globalization change the way wealth and power are distributed within and among countries? • Structural impact. How does globalization structure patterns of behavior (social, political, economic, etc.). Globalization means many things to different people depending on one’s perspective and where you are in the world, be it developed or developing nation or leader in business or politics. Research has shown that there are

Globalization Towards The Improvement Of Our World

1182 words - 5 pages Globalization describes a process by which regional economies, societies, and cultures have become integrated through a global network of communication, transportation, and trade. Diffusion is the process by which a culture item spreads from group to group or society to society. Impact of globalization and diffusion on world society: Since the mid-twentieth century globalization has become a buzzword to talk about societies, and is defined