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Anti-dumping is a Necessary Part of International Trade Legislation Essay

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Processes of cooperation and integration between countries are very important in the modern world. At the present time, a profound influence and an interrelation between countries is noticeable. The result of these processes in the future should be a fully free transmission of goods, services and subjects of intellectual property, capitals and human resources. At the same time, there is still a big gap in the level of economic development of countries in the world. This imbalance creates a collision between two different policies of world trade. Some countries provide liberalisation of international trade, other countries advocate protectionism to support a domestic market by using barriers and restraints on trade. One manifestation of this collision is dumping. There should be communication between authorities on both sides of the trade process as an exporter and importer too because dumping threatens to injure domestic market. The best way of interaction is involvement an independent arbiter. The World Trade Organisation (WTO) takes this function upon itself. This conflict of interest could be solved by anti-dumping legislation - a powerful instrument of international trade regulation.

The general meaning of the term “dumping” is “unfair export”, which means exporting goods at an unreasonably low price, which much more less than the price in the domestic country or considerable lower the costs of producing these goods. Dumping as a legal definition of “unfair export” first appeared at the beginning of the twentieth century. The first country to approve anti-dumping regulation was Canada in 1904. New Zealand did it in 1905, Australia in 1910 and South Africa in 1914. The USA adopted it in 1916, Great Britain in 1921.
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...ly to assist producers goods and services as well as importers and exporters conduct their businesses.


References:
Matsushita, M., Schoenbaum, T.J., Mavroidis, P.S., 2006. The World Trade Organisation. Law, Practice, and Policy. Oxford University Press.
Mueller, W, 2009 EC and WTO Anti-dumping Law, Oxford University Press.
Vermulds, E., 2005 The WTO Anti-dumping Agreement, A commentary. (Oxford commentaries of international law). Oxford University Press.
Anti-anti-dumping, published 19/11/2009, Financial Times [Accessed 29.11.2009].
The official site oh the IBRD. www.worldbank.org/ibrd.
The official site of the WTO. www.wto.org
A basic guide to the WTO Anti-dumping Agreement, www.antidumpingpublishing.com [Accessed 30.11.2009].
Stevenson, C., Global Trade Protection Report 2009, 2009 www.antidumpingpublishing.com [Accessed 30.11.2009].


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