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Example research essay topic: Canadian Economy Raw Materials - 1,012 words

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Macroeconomics. The modern epoch is characterized by the wide international economic cooperation and integration featured by the diversification of the manufacturing and globalization of the economy. The humanity faces the task of working out the common standards and rules of the common business. Countries have to establish the organizations aimed to support their local business, protect their national economies and the rights of the national manufacturers, exporters and importers.

One of such institution is The Canadian International Trade Tribunal, with the mandate to prevent the Canadian economy from the injuries to a domestic industry caused by the dumped or subsidized imports. 1 The problem of dumping is the problem of the modern global economy which may harm the national economies. The threat of dumping may be illustrated by the following example. After the collapse of The USSR Ukraine, being one of the most ex-USSR advanced countries in the metallurgy started exporting its steel intensively. There was no any Ukrainian law regulating the price policy. The steel was exported to African and Asian markets at a price much lower than that exported by the European and American companies thus superseding the foreign exporters out of the market. The market legislation had not been adopted yet by that time in Ukraine.

If we analyze the steel cost we see it roughly consists of the following components, the cost of raw materials (ore), the cost of the electricity, coal, the cost of freight, the taxes and the cost of labor. The expenses for the raw materials, coal, and electricity are almost the same worldwide (exchange prices). The freight expenses are the same as well. The cost of steel may be reduced theoretically only by the labor cost, but the share of the labor cost in one ton of the steel production expenses is very low. At the same time the Ukrainian and Russian companies succeeded to offer the steel at a price almost twice or even three times cheaper than that in the countries with the real free market economies. These countries naturally had to defend their interests against the dumping.

If we speak of domestic market the CITT is objected to protect the interests of the national manufacturers. The CITT hears appeals of decisions of the Canada Customs and Revenue Agency made under the Customs Act, the Excise Tax Act and the Special Import Measures Act. 2 The matter of prices is the crucial point of the international transactions. The above mentioned function of the CITT is aimed to protect the local market against the unfair dumping. The CITT conducts appeals against the unfair decisions connected with the governmental procurement.

This function of the CITT is aimed to exclude the protectionism, corruption and provide the equal opportunities for all representatives of the Canadian business. The CITT has also the referential function. It may conduct an inquiry on any economic, trade, tariff or commercial matter. Such inquiry may be initiated by The Government of Canada. The CITT may also give recommendations to the government connected with the economic issues 3. The CITT may conduct the inquiries to determine if the Canadian manufactures have the losses caused by the increasing imports.

This function is also aimed to protect the local manufacturers. The decision according to which the attempts to provide the Microsoft software as the only one acceptable for the Internet based application by the Library of Parliament were considered discriminative may characterize the CITT activities 4. The role of the CITT in Canadian economy is very substantial. It protects the Canadian companies on one hand and provides the Government procurement activity with such system tools as recommendations, fair tender environment, information etc. on the other hand. The World Trade Organization was founded in 1995.

Its main objectives are: Assisting developing countries in trade policy issues, through technical assistance and training programs. Cooperating with other international organizations administering trade agreements Acting as a forum for trade negotiations Settling trade disputes Reviewing national trade policies 5. The activities of the WTO are aimed mainly to harmonization of the international trade. The WTO consists of 148 member countries. The WTO was established in 1995.

This is the youngest international institution. The member countries granted the wide range of authorities to the WTO. The WTO plays the great role not only in the international business cooperation but in the democratization of the world community as well. Being granted the wide range of authorities to review the national trade policies of the member countries WTO encourages the adoption of more liberal national laws and standards in the international trade. The functions of the WTO and the CITT are similar regarding the supervision of the business standards. Canada, being one of the most industrially developed countries has the legislation harmonized with the international standards and is interested in its observance.

Canada is interested in further harmonization of the international trade standards as well. There are some differences in the roles of the WTO and the CITT. The CITT is objected to protect the domestic market of Canada only while the Wto's role is to smooth the international cooperation between the various countries. The CITT serves as a consulting and advising organization for the government and the companies of Canada only while the WTO serves to all the member countries. We may say that though the roles of the CITT and the WTO are different their interests coincide.

Canada is interested in the fair business relations with the other countries. One of the reasons of the fact that Ukraine, Russia and other post Soviet countries are not the WTO members is they have not adopted yet the proper anti dump legislation. Canada as well as other developed countries is very much interested in the fair business and in the case of the ex-USSR countries the interests of the WTO and the CITT coincide. Bibliography: CITT, Mandate, available at web P&L COMMUNICATIONS INC File No. : PR- 2000 - 073, available at web WTO, available at web Citation: CITT, Mandate Ibid Ibid P&L COMMUNICATIONS INC File No. : PR- 2000 - 073.

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Research essay sample on Canadian Economy Raw Materials

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