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Answer:
WTO:
ROLE:
The WTO was born out of negotiations, and everything the WTO
does is the result of negotiations.
There are a number of ways of looking at the World Trade
Organization. It is an organization for trade opening. It is a forum
for governments to negotiate trade agreements. It is a place for
them to settle trade disputes. It operates a system of trade rules.
Essentially, the WTO is a place where member governments try to
sort out the trade problems they face with each other.
RESPONSIBILITIES:
The WTO agreements are lengthy and complex because they are
legal texts covering a wide range of activities. But a number of
simple, fundamental principles run throughout all of these
documents. These principles are the foundation of the multilateral
trading system.
1. Non-discrimination
2. More open
3. Predictable and transparent
4. More competitive
5. More beneficial for less developed countries
6. Protect the environment
IMF:
Role:
WORLD BANK:
1. CHANGE OF GOVERNMENT
The political risks that can confront an international trader can arise in
several ways. The most common of these is the 'change of government'.
In a democracy, this can happen in the form of election of a different
party to power. Such cases, being quite common in established mature
democracies, can often be foreseen to some extent, and hence it is one of
those political risks that is comparatively easier to plan for.
2. VIOLENT CONFLICTS
3. SANCTIONS
In case of imports, ban can be imposed from the popular dissent and
media hype against its adverse impact on the domestic industry. In case
of exports, such a ban could arise from the price escalation of those
goods in the domestic market.
To plan for managing a risk, the first step is to compute the probability of
its occurrence. Once that is done, a decision needs to be taken as to
whether in the light of that risk and the probable loss arising from it, it
makes any sense to continue with the business. A difficult and tricky
question is to quantify this risk in monetary terms, which alone is a
sensible indicator for the need to spend on planning for it.