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Pros: 

-           emboldening trade between the nations and ensure smooth trade flow. 

-          ensuring that all disputes are resolved amicably 

-          Stimulates economic growth 

-          Makes life more efficient through policy 

Cons: 

-          Developing countries suffer the most when it comes to trade deals that are cut among nations due to their week influence. -> unfair 

-          WTO deal with ensuring that governments are protected in terms of trade -> Insecurity 

-          WTO is accused of destroying the environment by encouraging governments to build industries and other technology firms at the expense of the environment -> Hampers Nature 

 

Benefits: 

-          WTO helps promote peace 

-          WTO encourages good government 

-           Trade raise income 

Challenges: 

-          Competition will be tougher, wider and deeper 

-          The distribution of benefits in the context of globalization is unequal 

-          Interdependence among countries will increase as a result of globalization 

Benefits:+ access to latest technological advances for national modernisation and industrialisation. + enlarge the domestic services                + goods markets                                             + exports and further strengthen reforms
challenges: +integration but not dissolvent + reduced for removed and quotas abolished, competition are more severe

*Benefits and challenges of Vietnam when participated in WTO 

  - Benefits: 

     +, Lower prices for consumers. Removing tariffs enables us to buy cheaper imports. 

Free trade encourages greater competitiveness. 

     +, Productivity in Vietnam under the condition of international trade increases because the country concentrates on the production of the good with its absolute advantage which has a productivity of 0.05. But productivity in the US increases even faster and the Vietnamese productivity gap increases to 0.05. 

     +, Vietnam have enhances to access to lastest technological advances for national mordernization and industrialization. 

   -Challenges: 

       +, Increasing the quality of Vietnam economy and product. 

       +, The awareness of enterprises of the impact of Vietnam’s WTO accession. 

       +, The specific preparations of enterprises before and after Vietnam joining to WTO. 

       +, Maintaining national identity. 

       +,  Business performance. 

       +,  Enterprises’ advantages and disadvantages in recent years. 

       +, Supports of government and agencies. 

       +,  Relationship with government agencies in the context of Vietnam joining WTO. 

       +,  Evaluating impacts of WTO accession of Vietnam. 

*Advantages and disadvantages of WTO: 

    -Advantages: 

        +, Promote free trade through gradual reduction of tariffs. 

        +, Lower prices for consumers. 

        +, Free trade encourages better competitiveness. 

        +, Provide legal framework for negotiation of trade disputes.         

        +, Trade without discrimination - avoiding preferential trade agreements. 

1. Economic development: UN provides resources to promote development, improve living standards of people, and human skills. They offer funds at low interests’ rates to alleviate rural poverty.

2. Maintaining peace: UN has participated in many peacekeeping campaigns worldwide. It has been able to restore peace among many countries and enable them to recover from conflicts.

3. Promote security: United nation strategies enable governments to coordinate their counter-terrorism efforts. United Nation promote international cooperation against terrorism and prevent genocide attacks.

4. Promote human rights: The united nation human rights body investigate individual complaints and ensure they receive legal justice. It also puts pressure on governments to improve human rights records.

5. Social development: UN helps the government in providing some essential services like education and health care facilities. They promote maternal care and can hold campaigns on preventing the spread of epidemics.

6. Humanitarian act: They help refugees by providing them with the basic needs and relocation to their homeland if the conditions warrant or support them in settling in another country.

7. Provide better lives: It helps improve the living standards of people by eliminating diseases and poverty among them. It helps in promoting sustainable development among nations.

8. Climate change: Climate change is a global problem and requires a global solution, therefore, UN has been on the forefront fighting the global climate challenges and help countries on how to cope with these changes.

9. Freedom: It enables the citizen to fight for their freedom. It ensures there is freedom of speech.

10. Prosecuting war criminals: UN has helped in the establishment of international criminal law which can be used to convict war criminals. It also solves international disputes.

 

1. Independent States: The UN can make its services as effective as the members want it to be. The set rules and set up mechanisms to enable them to be accountable systems.

2. Political compromises: UN consists of a big group of contradicting state and due to various political compromises, the founding principles are always undermined by member states.

3. Ineffective: Many people have suffered a lot due to ineffective UN programs. Their support is not enough to eradicate poverty, eliminate child and women trafficking and other security issues.

4. Biased: It is only concerned with major powers from France, UK, and the USA.

5. No right procedures and laws: There are no right laws and procedures to be followed when changing the structure. The old members don’t want to allow new members into the group.

6. Nuclear proliferation: UN was unable to stop nuclear proliferation and prevent US invasions of Vietnam.

7. Unbalanced: Each Security Council member in the UN have the right to vote on any proposal concerning peacekeeping. A single security council can affect the entire peacekeeping process.

8. Conflicts: There is a conflict between the state and non-profit state actors. UN bodies are used by some powerful nations to exert their own will and this makes it ineffective in preventing power struggle conflicts among nations.

9. Corruption: There are a lot of mismanagements and corruption committed by some UN officials.

10. Sexual abuse: There were increased rape and sex abuse cases after the Nato peacekeepers were brought in.