OECD Advantages And Disadvantages

3. Briefly, what does the OECD stipulate about member nations’ obligations regarding bribery &corruption? Since Canada has ratified the OECD guidelines, what are the implications for Canadian business people selling to foreign governments?

The struggle between capitalism, national sovereignity, human rights, and environmental protectionism is a constant struggle. International Nongovernment Organzations (INGO) serve an important role in watching the process unfold. Unfortunately, the history of the world is filled with conflict and no one person or group has the answer as to the outcome.

was the only country in the world that formed legislation forbidding foreign bribery practices. Although the FCPA was ideally important, it was significantly ineffective until the Organization for Economic Cooperation and Development (OECD) was formed in 1997. The OECD is an international economic organization where “the governments of 34 democracies including the U.S., Germany and Korea, with market economies work with each other, as well as with more than 70 non-member economies to promote economic growth, prosperity, and sustainable development. The Organization provides a setting where governments can compare policy experiences, seek answers to common problems, identify good practice and coordinate domestic and international policies.”

The key issue with globalization in a post-financial crisis world is regulation. Economic standards must be set in order to protect the global economy from the short term self intrests that have caused it so much harm. The regulations do not stand on their own, they rely on some type of enforcement that comes from an institution, but there is no institution that has the ability to enforce regulations on a global level.() Implementing regulation is not meant to prevent advancement, but rather to minimize the dangers to the workers and citizens of advanced industrialized countries.

In their introduction to the chapter "Why International Organisations Matter," which was contributed to Business and the Politics of Globalisation: After the Global Financial Crisis, authors Xu Yi-chong and Patrick Weller begin the rhetorical defense of international organisations (IOs) by providing a review of recent global crises, and describing the various roles that global groups like the World Bank, the International Monetary Fund (IMF), and the International Panel on Climate Change (IPCC) played in addressing these most complex of dilemmas. The work performed by both the IMF and the World Bank in mitigating the disastrous effects of the global financial crisis is presented as a prime example of the efficacy of international organisations, as is the authoritative Report issued by the IPCC in response to mounting evidence in support of climate change as a demonstrable scientific phenomenon. As Yi-chong and Weller state unequivocally, "globalisation could not have taken place without the desire of states to pursue cooperation; neither could it have happened without IOs acting as effective facilitators of that cooperation" (2010), because communication on the international scale often requires an objective third-party for purposes of negotiation, mediation, and conflict resolution.

Esping-Anderson analysed and described the, in his time, 18 countries which were part of the organisation for economic co-operation and development (OECD countries). He came up with two distinct dimensions: 1.

There are many economic system in the study of economy .Economy system is the structure of production, distribution of economic input and output and consumption of goods and services in an economy. There are 3 types of economic system which are planned economy system (command economy), mixed economy system and free market system (market economy). Therefore , different countries have different economy system.

When there is no treaty between the countries of two parties in dispute, the United Nations Convention on Recognized Enforcement of Arbitral Awards offers a mechanism between the more than 120 signatory countries worldwide to readily recognize and enforce arbitral awards from each other’s countries, a major advantage over court litigation in such circumstances where the foreign MNE could be in a disadvantageous position when facing a domestic firm.

Assess the role global institutions like the (WTO, Word Bank, UN) have in international business in these countries, with specific reference to international trade.

Development assistance committee (DAC) of the Organization for Economic development Co operations and Development defines foreign aid or also know as foreign assistance as financial assistance, technical assistance and material assistance which are intended to stimulate economic development and welfare as their key objective but with exclusion of aid given to military and to other non development activities. From historical point, many aids have been provided as bilateral aid where resources are mobilized from one country to another country directly also as multilateral assistance where resources are mobilized from many donors, which may consists different countries and directed to intended countries. The whole process of resource mobilization

A non-governmental organization is a non-profit, citizen-based group that functions independently of government. NGOs, sometimes called civil societies, are organized on community, national and international levels to serve specific social or political purposes, and are cooperative, rather than commercial, in nature. (3) Today there are multiple NGOs registered around the world, heavily in developing countries. NOGs no matter where they exist they seem to have a nullifying role in the politics of the host country. In one way they criticize dictatorships and human rights violations. Then in another way they compete with the radical socio-political and religious groups. (8) Their aims range from providing relief services, conserving the environment, contributing to development projects or simply battling with governments over human rights issues. While some governments welcome NGOs, others find them a nuisance or even a threat to their interests. (1)

C. Sports events such as the World Cup and Olympics can also be used for cultural

The CISG has been regarded as a success for the UNCITRAL, as said by John Felemegas “[the Convention has been accepted by states from] every geographical region, every stage of economic development and every major legal social and economic system”. It’s overall reach has been described as having the “greatest influence on the law of worldwide trans-border commerce” . In the United States for example, 1.67 trillion dollars in goods were imported and 904 billion dollars exported in 2005 alone. A large percentage of these goods were destined from or originated from countries that are signatories to the CISG. The Convention which applies by default in the international sales context, has also impacted on sales legislation at the regional and national levels. The particular importance of the Convention in the international arena is underlined by some 2,000 reported decisins where the CISG has been held to apply.

A conflict of laws is a major issue that usually arises in international commercial transactions. International characters in the transaction create questions, such as which court has jurisdiction over the case, which law is applicable to the case and will the judgment enforceable. One possible way to avoid the risk of a conflict of laws is to harmonise laws relating to international sales into uniform law or a convention for worldwide adoption. The United Nations Convention on Contracts for the International Sale of Goods (CISG), known as the Vienna Convention, is one of the results from the harmonisation of international trade law. Although there are many supports to this convention, the argument of its effectiveness still continues and some countries still not ratify.

However resolving international commercial disputes via litigation by national courts entailed many complications. For instance host state may come up with legislations or policies which may affect the business and prevent the investor from getting any remedy for damages suffered; the country may not have strong and update laws to protect the investments. Also the adversarial nature of the litigation may not help to maintain good business relationship. As such arbitration which is consensual, flexible, informal, binding and enforceable can be considered as a better form of dispute resolution. The Convention on Peaceful Resolution of International Dispute signed in 1907 provided for conclusion of Bilateral Arbitration Treaties however there was no direct cause of action by the foreign national which had suffered damages. In 1965 there was a major reform by the creation of ICSID mechanism after the conclusion of Washington Convention. As a result many states entered into Bilateral Investment Treaties ‘BITS’ to promote and protect investment. As per the treaties disputes were submitted to International arbitration which were completely delocalised and Investors could seek remedy