Global Business

Global business By Erica Khvostova

What’s business for different people? The essence of all modern commerce is fraud. George Orwell

WHAT IS GLOBAL BUSINESS? Global business consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations. These transactions take on various forms, which are often interrelated.

What is the WTO? The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.

Members and Observers of WTO The WTO includes 157 countries and one of them is Russia. Russian Federation became a member of the World Trade Organization on the 22 August, 2012

Global organizations The organization is considered to be international (global), if it has at least one branch out of its native country

Some puzzles about business In order to partners won't argue then,  lawyers write business … for them. (contracts) All the savings like in tank will be kept safely in the … (bank) If you fail a bit don't ignore or your business will be captured by your … (competitor)