Government Effects on Global Trade Essay Example | Topics and Well Written Essays - 750 words

Government Effects on Global Trade - Essay Example Currently the two arrangements do not exist. The STA only lasted for a period of one year which was from October 1961 to September 1962 (Kar 2015). The LTA which substituted STA managed to last for five years from October 1962 under continuous re-establishments. Its prime role was to prevent rapid penetration of textile imports into markets that were already developed (Kar 2015).   That way any domestic producer would never be threatened. Despites all the efforts made by Kennedy’s government on the arrangements, the importation of textile into the US never stopped, in fact, it grew more serous (Rivoli 2015). This further led to other arrangements as the Multi-Fiber Arrangement (MFA). Since several bodies were established by different global leaders to control the global trade and yet no encouraging results were obtained, there are doubts in progress in resolving the issues. This can further be attributed to the fact that almost all of these leaders speak out different messag es to the public from the actions they take during private phone calls. This can be summarized by the free trade rhetoric expressed by Rivoli (2015). Censoring Rivoli (2015), the global leaders make promises about controlling the textile and apparel import issues then fail during their reign. Apparently this is a routine insinuating failure to handle the issue at hand. For better leadership to come from the leaders in this particular industry, the authorities must stop deceiving the public in front of cameras then acting contradictorily during their private phone calls.