Posted: September 8th, 2023

BUSI604 Liberty University Week 4 International Business

BUSI604 Liberty University Week 4 International Business. KEY TERM: World Trade Organization (WTO)

After you have successfully chosen the key term that interests you the most, research a minimum of 5 recent international business/management

articles that relate to the concept on which you wish to focus your research. Articles must be found in reputable professional and/or scholarly journals and/or business/trade journals that deal with the content of the course (i.e., not blogs, Wikipedia, newspapers, etc.). After reading the articles, select the 1 article that you wish to discuss.

It is highly recommended that you use Liberty University’s Jerry Falwell Library online resources. A link is provided in the Discussion Assignment Resources. A librarian is available to Help you in all matters pertaining to conducting your research, including what constitutes a scholarly article.

Your thread must be placed in the Discussion textbox and adhere precisely to the following headings and format:

1.Key Term and Why You Are Interested in It (100 words minimum)

After reading the textbook, specifically state why you are interested in conducting further research on this key term (e.g., academic curiosity, application to a current issue related to employment, or any other professional rationale). Include a substantive reason, not simply a phrase.

2.Explanation of the Key Term (100 words minimum)

Provide a clear and concise overview of the essentials relevant to understanding this key term.

3.Major Article Summary (200 words minimum)

Using your own words, provide a clear and concise summary of the article, including the major points and conclusions.

4.Discussion

In your own words, discuss each of the following points:

a.How the cited work relates to your above explanation AND how it relates specifically to the content of the assigned module. This part of your thread provides evidence that you have extended your understanding of this key term beyond the textbook readings. (100 words minimum)

b.How the cited work relates to the other 4 works you researched. This part of your thread provides evidence that you have refined your research key term to a coherent and specialized aspect of the key term, rather than a random selection of works on the key term. The idea here is to prove that you have focused your research and that all works cited are related in some manner to each other rather than simply a collection of the first 5 results from your Internet search. (100 words minimum)

5.References

A minimum of 3 recent articles (as described above), in current APA format, must be included and must contain persistent links so others may have instant access. In the event that formatting is lost or corrupted when submitting the thread, attach the Microsoft Word document to your thread as evidence that your work was completed in the proper format. Please see the appropriate instruction link in the Discussion Assignment Resources for more information on creating persistent links.

Course Textbook: International Business with Biblical Worldview second edition Brian C. Satterlee

After reading Chapter 4 of the course textbook on international trade policy and the World Trade Organization (WTO), I became interested in further exploring the role and impact of the WTO in facilitating global trade. As an increasingly globalized world, understanding international institutions like the WTO that set rules for trade between nations is important context for any business seeking to expand internationally.
Explanation of the Key Term
The World Trade Organization is an intergovernmental organization that regulates and liberalizes international trade. With 164 member countries, the WTO provides a framework and rules for negotiating trade agreements and resolving disputes. Its primary function is to open trade for the benefit of all through cooperation and compromise.
Major Article Summary
In “The World Trade Organization 20 years on: Prospects and challenges” (Journal of International Economic Law, 2022), the authors assess the WTO’s effectiveness over its first two decades. They find that while the WTO has helped increase global trade flows, negotiations have stalled in recent years. Ongoing challenges include the rise of regional trade agreements, lack of consensus on new rules in areas like e-commerce, and tensions between major powers. Overall, the WTO remains important but must adapt to stay relevant in a changing global economy.
Discussion
a) This article relates to my explanation of the WTO by providing an overview of its role and performance to date. It also touches on challenges facing the WTO mentioned in Chapter 4, such as new issues not covered by existing rules.
b) The other articles I researched examined specific WTO agreements or disputes, allowing me to refine my understanding of the WTO’s dispute settlement process and rules governing sectors like services and intellectual property protection. Together, these sources provided a well-rounded picture of the WTO’s objectives and ongoing work in the international trade regime.
References
Baldwin, R., & Evenett, S. (2022). The World Trade Organization 20 years on: Prospects and challenges. Journal of International Economic Law, 25(1), 1–18. https://doi.org/10.1093/jiel/jgab025
Mattoo, A., & Meltzer, J. P. (2018). International trade, economic policy and the WTO during the Trump administration. Journal of International Business Policy, 1(3-4), 216–225. https://doi.org/10.1057/s42214-018-0016-4
Valentini, C. (2019). The WTO dispute settlement understanding: A system in need of reform. Journal of World Trade, 53(3), 403–418. https://heinonline.org/HOL/P?h=hein.journals/jworltra53&i=411

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