The Soviet Union the Union of Soviet Socialist Republics, was a socialist state in Eurasia that existed from 1922 to 1991. Nominally a union of multiple national Soviet republics, its government and economy were centralized; the country was a one-party state, governed by the Communist Party with Moscow as its capital in its largest republic, the Russian Soviet Federative Socialist Republic. Other major urban centres were Leningrad, Minsk, Alma-Ata, Novosibirsk, it spanned over 10,000 kilometres east to west across 11 time zones, over 7,200 kilometres north to south. It had five climate zones: tundra, steppes and mountains; the Soviet Union had its roots in the 1917 October Revolution, when the Bolsheviks, led by Vladimir Lenin, overthrew the Russian Provisional Government which had replaced Tsar Nicholas II during World War I. In 1922, the Soviet Union was formed by a treaty which legalized the unification of the Russian, Transcaucasian and Byelorussian republics that had occurred from 1918. Following Lenin's death in 1924 and a brief power struggle, Joseph Stalin came to power in the mid-1920s.
Stalin committed the state's ideology to Marxism–Leninism and constructed a command economy which led to a period of rapid industrialization and collectivization. During his rule, political paranoia fermented and the Great Purge removed Stalin's opponents within and outside of the party via arbitrary arrests and persecutions of many people, resulting in at least 600,000 deaths. In 1933, a major famine struck the country. Before the start of World War II in 1939, the Soviets signed the Molotov–Ribbentrop Pact, agreeing to non-aggression with Nazi Germany, after which the USSR invaded Poland on 17 September 1939. In June 1941, Germany broke the pact and invaded the Soviet Union, opening the largest and bloodiest theatre of war in history. Soviet war casualties accounted for the highest proportion of the conflict in the effort of acquiring the upper hand over Axis forces at intense battles such as Stalingrad and Kursk; the territories overtaken by the Red Army became satellite states of the Soviet Union.
The post-war division of Europe into capitalist and communist halves would lead to increased tensions with the United States-led Western Bloc, known as the Cold War. Stalin died in 1953 and was succeeded by Nikita Khrushchev, who in 1956 denounced Stalin and began the de-Stalinization; the Cuban Missile Crisis occurred during Khrushchev's rule, among the many factors that led to his downfall in 1964. In the early 1970s, there was a brief détente of relations with the United States, but tensions resumed with the Soviet–Afghan War in 1979. In 1985, the last Soviet premier, Mikhail Gorbachev, sought to reform and liberalize the economy through his policies of glasnost and perestroika, which caused political instability. In 1989, Soviet satellite states in Eastern Europe overthrew their respective communist governments; as part of an attempt to prevent the country's dissolution due to rising nationalist and separatist movements, a referendum was held in March 1991, boycotted by some republics, that resulted in a majority of participating citizens voting in favor of preserving the union as a renewed federation.
Gorbachev's power was diminished after Russian President Boris Yeltsin's high-profile role in facing down a coup d'état attempted by Communist Party hardliners. In late 1991, Gorbachev resigned and the Supreme Soviet of the Soviet Union met and formally dissolved the Soviet Union; the remaining 12 constituent republics emerged as independent post-Soviet states, with the Russian Federation—formerly the Russian SFSR—assuming the Soviet Union's rights and obligations and being recognized as the successor state. The Soviet Union was a powerhouse of many significant technological achievements and innovations of the 20th century, including the world's first human-made satellite, the first humans in space and the first probe to land on another planet, Venus; the country had the largest standing military in the world. The Soviet Union was recognized as one of the five nuclear weapons states and possessed the largest stockpile of weapons of mass destruction, it was a founding permanent member of the United Nations Security Council as well as a member of the Organization for Security and Co-operation in Europe, the World Federation of Trade Unions and the leading member of the Council for Mutual Economic Assistance and the Warsaw Pact.
The word "Soviet" is derived from a Russian word сове́т meaning council, advice, harmony and all deriving from the proto-Slavic verbal stem of vět-iti, related to Slavic věst, English "wise", the root in "ad-vis-or", or the Dutch weten. The word sovietnik means "councillor". A number of organizations in Russian history were called "council". For example, in the Russian Empire the State Council, which functioned from 1810 to 1917, was referred to as a Council of Ministers after the revolt of 1905. During the Georgian Affair, Vladimir Lenin envisioned an expression of Great Russian ethnic chauvinism by Joseph Stalin and his supporters, calling for these nation-states to join Russia as semi-independent parts of a greater union, which he named as the Union of Soviet Republics of Europe and Asia. Stalin resisted the proposal, but accepted it, although with Lenin's agreement changed the name of the newly proposed sta
World War I
World War I known as the First World War or the Great War, was a global war originating in Europe that lasted from 28 July 1914 to 11 November 1918. Contemporaneously described as "the war to end all wars", it led to the mobilisation of more than 70 million military personnel, including 60 million Europeans, making it one of the largest wars in history, it is one of the deadliest conflicts in history, with an estimated nine million combatants and seven million civilian deaths as a direct result of the war, while resulting genocides and the 1918 influenza pandemic caused another 50 to 100 million deaths worldwide. On 28 June 1914, Gavrilo Princip, a Bosnian Serb Yugoslav nationalist, assassinated the Austro-Hungarian heir Archduke Franz Ferdinand in Sarajevo, leading to the July Crisis. In response, on 23 July Austria-Hungary issued an ultimatum to Serbia. Serbia's reply failed to satisfy the Austrians, the two moved to a war footing. A network of interlocking alliances enlarged the crisis from a bilateral issue in the Balkans to one involving most of Europe.
By July 1914, the great powers of Europe were divided into two coalitions: the Triple Entente—consisting of France and Britain—and the Triple Alliance of Germany, Austria-Hungary and Italy. Russia felt it necessary to back Serbia and, after Austria-Hungary shelled the Serbian capital of Belgrade on the 28th, partial mobilisation was approved. General Russian mobilisation was announced on the evening of 30 July; when Russia failed to comply, Germany declared war on 1 August in support of Austria-Hungary, with Austria-Hungary following suit on 6th. German strategy for a war on two fronts against France and Russia was to concentrate the bulk of its army in the West to defeat France within four weeks shift forces to the East before Russia could mobilise. On 2 August, Germany demanded free passage through Belgium, an essential element in achieving a quick victory over France; when this was refused, German forces invaded Belgium on 3 August and declared war on France the same day. On 12 August and France declared war on Austria-Hungary.
In November 1914, the Ottoman Empire entered the war on the side of the Alliance, opening fronts in the Caucasus and the Sinai Peninsula. The war was fought in and drew upon each power's colonial empire as well, spreading the conflict to Africa and across the globe; the Entente and its allies would become known as the Allied Powers, while the grouping of Austria-Hungary and their allies would become known as the Central Powers. The German advance into France was halted at the Battle of the Marne and by the end of 1914, the Western Front settled into a battle of attrition, marked by a long series of trench lines that changed little until 1917. In 1915, Italy opened a front in the Alps. Bulgaria joined the Central Powers in 1915 and Greece joined the Allies in 1917, expanding the war in the Balkans; the United States remained neutral, although by doing nothing to prevent the Allies from procuring American supplies whilst the Allied blockade prevented the Germans from doing the same the U. S. became an important supplier of war material to the Allies.
After the sinking of American merchant ships by German submarines, the revelation that the Germans were trying to incite Mexico to make war on the United States, the U. S. declared war on Germany on 6 April 1917. Trained American forces would not begin arriving at the front in large numbers until mid-1918, but the American Expeditionary Force would reach some two million troops. Though Serbia was defeated in 1915, Romania joined the Allied Powers in 1916 only to be defeated in 1917, none of the great powers were knocked out of the war until 1918; the 1917 February Revolution in Russia replaced the Tsarist autocracy with the Provisional Government, but continuing discontent at the cost of the war led to the October Revolution, the creation of the Soviet Socialist Republic, the signing of the Treaty of Brest-Litovsk by the new government in March 1918, ending Russia's involvement in the war. This allowed the transfer of large numbers of German troops from the East to the Western Front, resulting in the German March 1918 Offensive.
This offensive was successful, but the Allies rallied and drove the Germans back in their Hundred Days Offensive. Bulgaria was the first Central Power to sign an armistice—the Armistice of Salonica on 29 September 1918. On 30 October, the Ottoman Empire capitulated. On 4 November, the Austro-Hungarian empire agreed to the Armistice of Villa Giusti after being decisively defeated by Italy in the Battle of Vittorio Veneto. With its allies defeated, revolution at home, the military no longer willing to fight, Kaiser Wilhelm abdicated on 9 November and Germany signed an armistice on 11 November 1918. World War I was a significant turning point in the political, cultural and social climate of the world; the war and its immediate aftermath sparked numerous uprisings. The Big Four (Britain, the United States, It
World War II
World War II known as the Second World War, was a global war that lasted from 1939 to 1945. The vast majority of the world's countries—including all the great powers—eventually formed two opposing military alliances: the Allies and the Axis. A state of total war emerged, directly involving more than 100 million people from over 30 countries; the major participants threw their entire economic and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. World War II was the deadliest conflict in human history, marked by 50 to 85 million fatalities, most of whom were civilians in the Soviet Union and China, it included massacres, the genocide of the Holocaust, strategic bombing, premeditated death from starvation and disease, the only use of nuclear weapons in war. Japan, which aimed to dominate Asia and the Pacific, was at war with China by 1937, though neither side had declared war on the other. World War II is said to have begun on 1 September 1939, with the invasion of Poland by Germany and subsequent declarations of war on Germany by France and the United Kingdom.
From late 1939 to early 1941, in a series of campaigns and treaties, Germany conquered or controlled much of continental Europe, formed the Axis alliance with Italy and Japan. Under the Molotov–Ribbentrop Pact of August 1939, Germany and the Soviet Union partitioned and annexed territories of their European neighbours, Finland and the Baltic states. Following the onset of campaigns in North Africa and East Africa, the fall of France in mid 1940, the war continued between the European Axis powers and the British Empire. War in the Balkans, the aerial Battle of Britain, the Blitz, the long Battle of the Atlantic followed. On 22 June 1941, the European Axis powers launched an invasion of the Soviet Union, opening the largest land theatre of war in history; this Eastern Front trapped most crucially the German Wehrmacht, into a war of attrition. In December 1941, Japan launched a surprise attack on the United States as well as European colonies in the Pacific. Following an immediate U. S. declaration of war against Japan, supported by one from Great Britain, the European Axis powers declared war on the U.
S. in solidarity with their Japanese ally. Rapid Japanese conquests over much of the Western Pacific ensued, perceived by many in Asia as liberation from Western dominance and resulting in the support of several armies from defeated territories; the Axis advance in the Pacific halted in 1942. Key setbacks in 1943, which included a series of German defeats on the Eastern Front, the Allied invasions of Sicily and Italy, Allied victories in the Pacific, cost the Axis its initiative and forced it into strategic retreat on all fronts. In 1944, the Western Allies invaded German-occupied France, while the Soviet Union regained its territorial losses and turned toward Germany and its allies. During 1944 and 1945 the Japanese suffered major reverses in mainland Asia in Central China, South China and Burma, while the Allies crippled the Japanese Navy and captured key Western Pacific islands; the war in Europe concluded with an invasion of Germany by the Western Allies and the Soviet Union, culminating in the capture of Berlin by Soviet troops, the suicide of Adolf Hitler and the German unconditional surrender on 8 May 1945.
Following the Potsdam Declaration by the Allies on 26 July 1945 and the refusal of Japan to surrender under its terms, the United States dropped atomic bombs on the Japanese cities of Hiroshima and Nagasaki on 6 and 9 August respectively. With an invasion of the Japanese archipelago imminent, the possibility of additional atomic bombings, the Soviet entry into the war against Japan and its invasion of Manchuria, Japan announced its intention to surrender on 15 August 1945, cementing total victory in Asia for the Allies. Tribunals were set up by fiat by the Allies and war crimes trials were conducted in the wake of the war both against the Germans and the Japanese. World War II changed the political social structure of the globe; the United Nations was established to foster international co-operation and prevent future conflicts. The Soviet Union and United States emerged as rival superpowers, setting the stage for the nearly half-century long Cold War. In the wake of European devastation, the influence of its great powers waned, triggering the decolonisation of Africa and Asia.
Most countries whose industries had been damaged moved towards economic expansion. Political integration in Europe, emerged as an effort to end pre-war enmities and create a common identity; the start of the war in Europe is held to be 1 September 1939, beginning with the German invasion of Poland. The dates for the beginning of war in the Pacific include the start of the Second Sino-Japanese War on 7 July 1937, or the Japanese invasion of Manchuria on 19 September 1931. Others follow the British historian A. J. P. Taylor, who held that the Sino-Japanese War and war in Europe and its colonies occurred and the two wars merged in 1941; this article uses the conventional dating. Other starting dates sometimes used for World War II include the Italian invasion of Abyssinia on 3 October 1935; the British historian Antony Beevor views the beginning of World War II as the Battles of Khalkhin Gol fought between Japan and the fo
Foreign direct investment
A foreign direct investment is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control; the origin of the investment does not impact the definition, as an FDI: the investment may be made either "inorganically" by buying a company in the target country or "organically" by expanding the operations of an existing business in that country. Broadly, foreign direct investment includes "mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations, intra company loans". In a narrow sense, foreign direct investment refers just to building new facility, a lasting management interest in an enterprise operating in an economy other than that of the investor. FDI is the sum of equity capital, long-term capital, short-term capital as shown in the balance of payments. FDI involves participation in management, joint-venture, transfer of technology and expertise.
Stock of FDI is the net cumulative FDI for any given period. Direct investment excludes investment through purchase of shares. FDI, a subset of international factor movements, is characterized by controlling ownership of a business enterprise in one country by an entity based in another country. Foreign direct investment is distinguished from foreign portfolio investment, a passive investment in the securities of another country such as public stocks and bonds, by the element of "control". According to the Financial Times, "Standard definitions of control use the internationally agreed 10 percent threshold of voting shares, but this is a grey area as a smaller block of shares will give control in held companies. Moreover, control of technology, management crucial inputs can confer de facto control." According to Grazia Ietto-Gillies, prior to Stephen Hymer’s theory regarding direct investment in the 1960s, the reasons behind Foreign Direct Investment and Multinational Corporations were explained by neoclassical economics based on macro economic principles.
These theories were based on the classical theory of trade in which the motive behind trade was a result of the difference in the costs of production of goods between two countries, focusing on the low cost of production as a motive for a firm’s foreign activity. For example, Joe S. Bain only explained the internationalization challenge through three main principles: absolute cost advantages, product differentiation advantages and economies of scale. Furthermore, the neoclassical theories were created under the assumption of the existence of perfect competition. Intrigued by the motivations behind large foreign investments made by corporations from the United States of America, Hymer developed a framework that went beyond the existing theories, explaining why this phenomenon occurred, since he considered that the mentioned theories could not explain foreign investment and its motivations. Facing the challenges of his predecessors, Hymer focused his theory on filling the gaps regarding international investment.
The theory proposed by the author approaches international investment from a different and more firm-specific point of view. As opposed to traditional macroeconomics-based theories of investment, Hymer states that there is a difference between mere capital investment, otherwise known as portfolio investment, direct investment; the difference between the two, which will become the cornerstone of his whole theoretical framework, is the issue of control, meaning that with direct investment firms are able to obtain a greater level of control than with portfolio investment. Furthermore, Hymer proceeds to criticize the neoclassical theories, stating that the theory of capital movements cannot explain international production. Moreover, he clarifies that FDI is not a movement of funds from a home country to a host country, that it is concentrated on particular industries within many countries. In contrast, if interest rates were the main motive for international investment, FDI would include many industries within fewer countries.
Another observation made by Hymer went against what was maintained by the neoclassical theories: foreign direct investment is not limited to investment of excess profits abroad. In fact, foreign direct investment can be financed through loans obtained in the host country, payments in exchange for equity, other methods; the main determinants of FDI is side as well as growth prospectus of the economy of the country when FDI is made. Hymer proposed some more determinants of FDI due to criticisms, along with assuming market and imperfections; these are as follows: Firm-specific advantages: Once domestic investment was exhausted, a firm could exploit its advantages linked to market imperfections, which could provide the firm with market power and competitive advantage. Further studies attempted to explain how firms could monetize these advantages in the form of licenses. Removal of conflicts: conflict arises if a firm is operating in foreign market or looking to expand its operations within the same market.
He proposes that the solution for this hurdle arose in the form of collusion, sharing the market with rivals or attempting to acquire a direct control of production. However, it must be taken into account that a reduction in conflict through acquisition of control of operations will increase the market imperfections. Propensity to formulate an internationalization strategy to mitigate risk: According to his position, firms are characterized with 3 levels of decision making: the day to day supervision, management decision coordination and long term strategy planning and deci
India known as the Republic of India, is a country in South Asia. It is the seventh largest country by area and with more than 1.3 billion people, it is the second most populous country as well as the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives, while its Andaman and Nicobar Islands share a maritime border with Thailand and Indonesia; the Indian subcontinent was home to the urban Indus Valley Civilisation of the 3rd millennium BCE. In the following millennium, the oldest scriptures associated with Hinduism began to be composed. Social stratification, based on caste, emerged in the first millennium BCE, Buddhism and Jainism arose. Early political consolidations took place under the Gupta empires. In the medieval era, Zoroastrianism and Islam arrived, Sikhism emerged, all adding to the region's diverse culture.
Much of the north fell to the Delhi Sultanate. The economy expanded in the 17th century in the Mughal Empire. In the mid-18th century, the subcontinent came under British East India Company rule, in the mid-19th under British Crown rule. A nationalist movement emerged in the late 19th century, which under Mahatma Gandhi, was noted for nonviolent resistance and led to India's independence in 1947. In 2017, the Indian economy was the world's sixth largest by nominal GDP and third largest by purchasing power parity. Following market-based economic reforms in 1991, India became one of the fastest-growing major economies and is considered a newly industrialised country. However, it continues to face the challenges of poverty, corruption and inadequate public healthcare. A nuclear weapons state and regional power, it has the second largest standing army in the world and ranks fifth in military expenditure among nations. India is a federal republic governed under a parliamentary system and consists of 29 states and 7 union territories.
A pluralistic and multi-ethnic society, it is home to a diversity of wildlife in a variety of protected habitats. The name India is derived from Indus, which originates from the Old Persian word Hindush, equivalent to the Sanskrit word Sindhu, the historical local appellation for the Indus River; the ancient Greeks referred to the Indians as Indoi, which translates as "The people of the Indus". The geographical term Bharat, recognised by the Constitution of India as an official name for the country, is used by many Indian languages in its variations, it is a modernisation of the historical name Bharatavarsha, which traditionally referred to the Indian subcontinent and gained increasing currency from the mid-19th century as a native name for India. Hindustan is a Middle Persian name for India, it was introduced into India by the Mughals and used since then. Its meaning varied, referring to a region that encompassed northern India and Pakistan or India in its entirety; the name may refer to either the northern part of India or the entire country.
The earliest known human remains in South Asia date to about 30,000 years ago. Nearly contemporaneous human rock art sites have been found in many parts of the Indian subcontinent, including at the Bhimbetka rock shelters in Madhya Pradesh. After 6500 BCE, evidence for domestication of food crops and animals, construction of permanent structures, storage of agricultural surplus, appeared in Mehrgarh and other sites in what is now Balochistan; these developed into the Indus Valley Civilisation, the first urban culture in South Asia, which flourished during 2500–1900 BCE in what is now Pakistan and western India. Centred around cities such as Mohenjo-daro, Harappa and Kalibangan, relying on varied forms of subsistence, the civilization engaged robustly in crafts production and wide-ranging trade. During the period 2000–500 BCE, many regions of the subcontinent transitioned from the Chalcolithic cultures to the Iron Age ones; the Vedas, the oldest scriptures associated with Hinduism, were composed during this period, historians have analysed these to posit a Vedic culture in the Punjab region and the upper Gangetic Plain.
Most historians consider this period to have encompassed several waves of Indo-Aryan migration into the subcontinent from the north-west. The caste system, which created a hierarchy of priests and free peasants, but which excluded indigenous peoples by labeling their occupations impure, arose during this period. On the Deccan Plateau, archaeological evidence from this period suggests the existence of a chiefdom stage of political organisation. In South India, a progression to sedentary life is indicated by the large number of megalithic monuments dating from this period, as well as by nearby traces of agriculture, irrigation tanks, craft traditions. In the late Vedic period, around the 6th century BCE, the small states and chiefdoms of the Ganges Plain and the north-western regions had consolidated into 16 major oligarchies and monarchies that were known as the mahajanapadas; the emerging urbanisation gave rise to non-Vedic religious movements, two of which became independent religions. Jainism came into prominence during the life of Mahavira.
Buddhism, based on the teachings of Gautama Buddha, attracted followers from all social classes excepting the middle
World Trade Organization
The World Trade Organization is an intergovernmental organization, concerned with the regulation of international trade between nations. The WTO commenced on 1 January 1995 under the Marrakesh Agreement, signed by 124 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade, which commenced in 1948, it is the largest international economic organization in the world. The WTO deals with regulation of trade in goods and intellectual property between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements, which are signed by representatives of member governments and ratified by their parliaments; the WTO prohibits discrimination between trading partners, but provides exceptions for environmental protection, national security, other important goals. Trade-related disputes are resolved by independent judges at the WTO through a dispute resolution process; the WTO's current Director-General is Roberto Azevêdo, who leads a staff of over 600 people in Geneva, Switzerland.
A trade facilitation agreement, part of the Bali Package of decisions, was agreed by all members on 7 December 2013, the first comprehensive agreement in the organization's history. On 23 January 2017, the amendment to the WTO Trade Related Aspects of Intellectual Property Rights Agreement marks the first time since the organization opened in 1995 that WTO accords have been amended, this change should secure for developing countries a legal pathway to access affordable remedies under WTO rules. Studies show that the WTO boosted trade, that barriers to trade would be higher in the absence of the WTO; the WTO has influenced the text of trade agreements, as "nearly all recent reference the WTO explicitly dozens of times across multiple chapters... in many of these same PTAs we find that substantial portions of treaty language—sometime the majority of a chapter—is copied verbatim from a WTO agreement." The WTO's predecessor, the General Agreement on Tariffs and Trade, was established by a multilateral treaty of 23 countries in 1947 after World War II in the wake of other new multilateral institutions dedicated to international economic cooperation—such as the World Bank and the International Monetary Fund.
A comparable international institution for trade, named the International Trade Organization never started as the U. S. and other signatories did not ratify the establishment treaty, so GATT became a de facto international organization. Seven rounds of negotiations occurred under GATT; the first real GATT trade rounds concentrated on further reducing tariffs. The Kennedy Round in the mid-sixties brought about a GATT anti-dumping Agreement and a section on development; the Tokyo Round during the seventies represented the first major attempt to tackle trade barriers that do not take the form of tariffs, to improve the system, adopting a series of agreements on non-tariff barriers, which in some cases interpreted existing GATT rules, in others broke new ground. Because not all GATT members accepted these plurilateral agreements, they were informally called "codes". Several of these codes were amended in the Uruguay Round and turned into multilateral commitments accepted by all WTO members. Only four remained plurilateral, but in 1997 WTO members agreed to terminate the bovine meat and dairy agreements, leaving only two.
Despite attempts in the mid-1950s and 1960s to establish some form of institutional mechanism for international trade, the GATT continued to operate for half a century as a semi-institutionalized multilateral treaty regime on a provisional basis. Well before GATT's 40th anniversary, its members concluded that the GATT system was straining to adapt to a new globalizing world economy. In response to the problems identified in the 1982 Ministerial Declaration, the eighth GATT round—known as the Uruguay Round—was launched in September 1986, in Punta del Este, Uruguay, it was the biggest negotiating mandate on trade agreed: the talks aimed to extend the trading system into several new areas, notably trade in services and intellectual property, to reform trade in the sensitive sectors of agriculture and textiles. The Final Act concluding the Uruguay Round and establishing the WTO regime was signed 15 April 1994, during the ministerial meeting at Marrakesh and hence is known as the Marrakesh Agreement.
The GATT still exists as the WTO's umbrella treaty for trade in goods, updated as a result of the Uruguay Round negotiations. GATT 1994 is not however the only binding agreement included via the Final Act at Marrakesh; the agreements fall into six main parts: the Agreement Establishing the WTO the Multilateral Agreements on Trade in Goods the General Agreement on Trade in Services the Agreement on Trade-Related Aspects of Intellectual Property Rights dispute settlement reviews of governments' trade policiesIn terms of the WTO's principle relating to tariff "ceiling-binding", the Uruguay Round has been successful in increasing binding commitments by both developed and developing countries, as may be seen in the percentages of tariffs bound before and after the 1986–1994
Panama–United States relations
Panama–United States relations are bilateral relations between Panama and the United States. According to the 2012 U. S. Global Leadership Report, 32% of Panamanian people approve of U. S. leadership, with 16% disapproving and 52% uncertain. The United States first attempted to acquire control of a canal on the Panamanian isthmus via the Hay-Herran Treaty of 1903, but the treaty was not ratified. Desperate to construct a canal, the United States saw the separatist movement as an opportunity. Despite the Bidlack-Mallarino Treaty of 1846 in which the United States would intervene in the event of a disorder between Panama and Colombia in Colombia’s favor, the United States prevented Colombian forces from moving across the isthmus to stop the Panamanian uprising. On November 4, 1903, the immediate support of the USA secured the Declaration of Independence of Panama from Colombia. In return, Panama signed the Hay–Bunau-Varilla Treaty three weeks granting the USA sovereign rights over the interoceanic canal that would be built over the following decade.
The evolution of the relation between Panama and the USA has followed the pattern of a Panamanian project for the recovering of the territory of the Canal of Panama, a project which became public after the events of May 21, 1958, November 3, 1959, on January 9, 1964. The latter day is known in Panama as the Martyrs' Day, in which a riot over the right to raise the Panamanian flag in an American school became the vicinity of the Panama Canal; the following years saw a lengthy negotiation process with the United States, culminating with the Torrijos–Carter Treaties, in which the transfer of the Panama Canal to Panama was set to be completed in December, 1999. The process of transition, was made difficult by the existence of the de facto military rule of Manuel Noriega in Panama from 1982 to 1989; the 1977 Panama Canal Treaties entered into force on October 1, 1979. They replaced the 1903 Hay–Bunau-Varilla Treaty between the United States and Panama, all other U. S.-Panama agreements concerning the Panama Canal, which were in force on that date.
The treaties comprise a basic treaty governing the operation and defense of the Canal from October 1, 1979 to December 31, 1999 and a treaty guaranteeing the permanent neutrality of the Canal. The details of the arrangements for U. S. operation and defense of the Canal under the Panama Canal Treaty are spelled out in separate implementing agreements. The Canal Zone and its government ceased to exist when the treaties entered into force and Panama assumed complete jurisdiction over Canal Zone territories and functions, a process, finalized on December 31, 1999. On December 20, 1989, in order to arrest Manuel Noriega, the United States invaded Panama; the military intervention helped to swear into power the winners of the elections of May 1989, President Guillermo Endara. The History of the Relations between Panama and the USA are a mandatory course in the curriculum of Public High School in Panama; the United States cooperates with the Panamanian government in promoting economic, political and social development through U.
S. and international agencies. Cultural ties between the two countries are strong and many Panamanians go to the United States for higher education and advanced training. In 2007, the U. S. and Panama partnered to launch a regional health worker training center. The center provides training to community healthcare workers in Panama and throughout Central America. About 25,000 American citizens reside in Panama, many are retirees from the Panama Canal Commission and individuals who hold dual nationality. There is a growing enclave of American retirees in the Chiriquí Province in western Panama. Panama continues to fight against the illegal arms trade; the country's proximity to major cocaine-producing nations and its role as a commercial and financial crossroads make it a country of special importance in this regard. The Panamanian Government has concluded agreements with the U. S. on maritime law enforcement, counter-terrorism, counter-narcotics, stolen vehicles. A three-year investigation by the Drug Prosecutors Office, the PTJ, several other law enforcement agencies in the region culminated in the May 2006 arrest in Brazil of Pablo Rayo Montano, a Colombian-born drug crime boss.
Assets located in Panama belonging to his drug cartel were among those seized by the Government of Panama following his indictment by a U. S. federal court in Miami. In March 2007, the United States Coast Guard, in cooperation with the Government of Panama, seized over 38,000 lbs. of cocaine off the coast of Panama, the largest drug seizure in the eastern Pacific. Panama signed the Lima Declaration, signed by multiple Latin American countries; the document is a collective rejection of Venezuela’s Constituent Assembly and identifies president Maduro of Venezuela as a dictator. In the beginning of August 2017, Vice President Pence visited Panama City, Panama to give a joint statement with President Varela regarding the two countries joint efforts to restore democracy in Venezuela, but more reflect on the relationship between the two countries. In the economic investment arena, the Panamanian government has been successful in the enforcement of intellectual property rights as well as has concluded a Bilateral Investment Treaty Amendment with the United States and an agreement with the Overseas Private Investment Corporation.
Although money laundering remains a problem, Panama passed significant reforms in 2000 intended to strengthen its cooperation against international financial crimes. In January 2005, Panama sent election supervisors to Iraq as part of the International Mission for Iraqi Elections to monitor the national electi