Impact of the World Trade Organization on Intellectual Property Rights Essay

Impact of the World Trade Organization on Intellectual Property Rights - Essay Example Finally, economics affect the governments by determining nation’s financial resources needed in the sustenance of the country’s requirements. The World Trade Organization (WTO) is an international body which has the main responsibility for regulating trade between different countries engaged in commercial activities. For example, the WTO standardizes trading policies by finding a common ground between different domestic policies (Kroll, 1999). Recent years have proved to be challenging for trading activities, especially in what concerns the intellectual property rights. Due to differences in policies regarding the ownership and transference of intellectual rights from one person to another, these rights are a crucial issue of contention between countries engaged in trading activities at the international level (Kroll, 1999). The WTO continues to resolve disputes arising with regard to intellectual property rights by providing a standardized set of rules used in the judgment of these cases (Kroll, 1999). Free trade recognizes individual rights to own and dispose of property and is a result of capitalism, which replaced the once popular mercantilism. Capitalism allows for privatization of wealth and the subsequent reduction of restrictions on trade, namely free trade (Craig, 1994). Free trade is considered an economic provision for exchange of goods and services without the intervention of the government, especially in view of foreign trade. In this scenario, the traders utilize the principle of comparative advantage, i.e. both parties benefit from the trade interactions. Ricardo (1817) demonstrated the gains from free trade by an example between two countries, which can use comparative advantage. Matters of guiding policies dictate that free trade ought to rely on supply and demand governing the prices and availability of the goods and services. However, comparative advantage, demand, and supply do not guarantee fair trade.

Evaluating an International HRM Strategy Assignment - 1

Evaluating an International HRM Strategy - Assignment Example At the same time, the company should introduce active employee participation policy. The Chinese food and beverage market has become the largest market in the world (Asia Perspective, 2014). Asia Perspective (2014) maintains that the current status of the Chinese food and beverage market is contributed by the fact that the Chinese economy has experienced a phenomenal growth in the recent years and has been able to maintain the growth trend over these years; and it is the fruit of this sustainable economic growth that has enabled its food and beverages market to obtain and retain the current status; consequently, it has attracted many local and international firms to invest in its growing food and beverage market. This graph clearly demonstrates the market potential of Chinese grocery market. The table highlights that the current grocery market are mainly shared by both local and international investors in which lead or majority of the market share is owned by Wal-Mart China as reflected by the table 01. At the same time, some local companies are also competing in the market. Due to this collective investment of both local and international investors, the Chinese grocery market has become balanced as it enables the consumers to experience the benefit of healthy competition in which they will be able to buy products at very competitive prices. In addition, China has a very strong and stable consumer purchasing power and this trend has experienced a sustainable growth and stability over these years. For example, consumers aged 25 to 39 remain the highest earners and they continue to increase as the Chinese market has stable job market for the current and potential graduates (Global Analysis Report, 2014). Fierce competition is unavoidable in the Chinese grocery market. the current trend highlights that many local and international firms actively pursuing their