u1 A Survey of World Economy商务英语教材.ppt

A Survey of World Economy;Pre-reading Activities;A: What do you think of China’s economy? B: It is reported that China has overtaken Italy as the world’s 6th biggest economy, giving us confidence in a long-term rapid growth. A: Is there any good way in developing the world’s poorest inhabited continent— Africa? B: Debts, impoverishment, wars and illness are still the biggest impediments for its economic development. Africa needs further efforts to keep up with the pace of world economic integration. A: We hope African economy will prosper with constant flows of foreign aid and solutions of the economic problems. Thank you very much indeed. B: You are welcome!;Learning Objectives ;Information Related to the Text ; World Trade Organization The WTO, established on January 1st, 1995, is the legal and institutional foundation of the multilateral trading system. Originally, it is the successor to the General Agreement on Tariffs and Trade (GATT) established in the wake of the Second World War. The multilateral trading system was developed through a series of trade negotiations, or rounds. The rounds dealt mainly with tariff reductions but later negotiations include other areas such as anti-dumping and non-tariff measures. The latest round, the Uruguay Round, led to the WTO’s creation.; Nowadays the WTO is the only international body dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations. These documents provide the legal ground-rules for international commerce. They are essentially contracts, binding governments to keep their trade policies within agreed limits. It provides the principal contractual obligations determining how governments frame and implement domestic trade legislation and regulations. It is also the platform on which trade relations among countries evolve through collective debate, negotiation and adjudication.; International Monetary Fund