Case studye Study Example | Topics and Well Written Essays - 500 words

Studye - Case Study Example Despite all this, there are a few among the numerous African countries that have managed to achieve a rather stable economic and social standing that is quite exemplary in the eyes of the other nations. South Africa, Morocco and Angola are some of the states looked up to within Africa for their economic prowess. Growth and development which is much sought after by each and every state cannot only be achieved through economic growth and power. A combination of factors is necessary towards achieving development. For this paper focus will be placed upon Botswana as a case study, a Southern African independent state that has experienced stable and constant growth over the years. Lewin (2011) describes Botswana’s economy as one of the most successful in the world, he terms is as remarkable considering that just after staining independence Botswana was not seen as a powerful state. Despite its limitations as a sparsely populated, landlocked country with little arid land, Botswana has overcome numerous setbacks and issues to improve its economic state and to stand out as an African country with great potential. Without focusing only on its economic strength, Botswana is a country that has enjoyed a stable democracy for a long period of time, political stability is crucial in the development of a state. Numerous states that are considered to be economically wealthy always seem to become victims of ‘the resource curse’ States with resources are prone to abuse of power from leaders and generally bad governance, somehow Botswana has managed to avoid such obstacles probably because of the small population and the homogeneity of the cultures and tribes within the country. Aside from good policy and good governance Botswana has also made a major effort to invest in education and to implement ways to curb money laundering which can

GATT Priciples in International Economics Essay Example | Topics and Well Written Essays - 750 words

GATT Priciples in International Economics - Essay Example The General Agreement on Trade and Tariff (GATT) is a voluntary agreement to give tariff concessions and reduce restriction on imports among 135 countries of the world (Blirtit). The agreement was formulated within the jurisdiction and framework of the World Trade Organization (WTO). There are four basic principles covered by GATT. These are: (1) discrimination is prohibited in trade relations, (2) Tariffs instead of trade barriers should be utilized by countries to protect themselves from foreign competition, (3) all member nation must promote the trading interest of each country, (4) negotiations between concerting terms of trade must follow the GATT framework (Blirtit). These principles have a positive influence in international trade. Discriminatory practices against a particular country hurt the balance of trade among nations. For example if the US discriminated against Argentina’s agricultural products it would hurt the internal economy of this nation which subsequently affects the purchasing power of Argentina and the amount of trade activity with other nations. An example of a discriminatory trade practice that can hurt a local economy of a GATT member nation is dumping. Dumping occurs when one country exports a significant amount of goods to another country at prices much lower than the domestic marketplace (Anwers, 2009). The anti-discriminatory clauses with the GATT principles provide a safeguard that protects the integrity of trade relations in the international economy. Tariffs are am instruments which creates a tax imposition on imports that raise the price and can be used to manipulate the demand specific goods and service imports. The good thing about this economic tool is that it provides consistency as far as creating a simple mechanism that can be utilized by any country to protect local industries. The GATT principles stipulate that tariffs should be the universal