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Create a 6 pages page paper that discusses the world trade organization, money corruption and money laundering.
Create a 6 pages page paper that discusses the world trade organization, money corruption and money laundering. Aizenman and Noy argue that corruption affects trade flows negatively. To this end, they identify that money laundering is used as a vehicle for overriding money laundering barriers across international boundaries. Also, “most public statements about the evils of corruption include a reference to the distortion of international competition and trade flows4. This shows emphatically that illegalities have an impact on competition and it affects the way trade is conducted in so many ways.
In illustrating this further, Wraight states that trade and investments are limited by “dizzying taxes, outlandish regulations, administrative inertia, the legal system, the labor code, monopolies, corruption, and fraud”5. Clearly, these are the textbook examples of corruptions and illegalities that are relevant to international trade and international business. Although, some of them are inherent in nature and cannot be routed out easily, others are of an external nature and can be dealt with through laws, monitoring, evaluation and other controls.
In this research, the aim is to examine and analyze the tools and mechanisms used by the World Trade Organization to deal with trade corruption. It will involve an examination of the relationship that exists between the WTO and illegalities in trade. In doing this, the paper will undertake a critical analysis of the various interventions used by the WTO and how effective or ineffective these mechanisms turn out to be in practice. .
International trade has taken a different turn over the past twenty years. It can be identified that three main things have played a major role in the changing terrain: globalization, deregulation and financial secrecy services.
