Notes - Dollars are becoming less expensive while Euros and...

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11/7/07 Dollars are becoming less expensive, while Euros and Pounds are becoming more expensive International Trade Institutions o WTO came from GATT in 1995 151 members Biggest change: Dispute Settlement Understanding (DSU) Member countries can bring complaints/claims against other countries o Countries found in violation usually change their own laws o Deals with enforcement concerns (prisoner’s dilemma) o GATT: 200 cases in 47 years; WTO: 369 since 1995 o Most cases brought by US and EU, but most cases are against EU and US too o Member governments must file suits, no industry can Doha Round: Talks about going economic development – since 2001 Negotiations remain open US-EU conflict (high EU subsidies) Developed-developing nation conflicts (agricultural policies) o Developing nations want more access to agricultural markets in US and EU – in return, US and EU want more market access to manufacturing US fast track authority expired June 30, 2007
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Notes - Dollars are becoming less expensive while Euros and...

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