lecture 25

lecture 25 - restrictions (such as cultural industries in...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1 1 LECTURE 25 – GLOBAL TRADE INSTITUTIONS AND AGREEMENTS OUTLINE { International Trade Policy: A Brief History z From GATT to WTO { Regional Trade Agreements z Free Trade Areas { NAFTA z Customs Unions z Common Markets 2 EVOLUTION OF GATT / WTO INTERNATIONAL TRADE FRAMEWORK Source: Dicken (2007)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 3 THE NORTH AMERICAN FREE TRADE AGREEMENT (1) { NAFTA guided by fundamental principle of national treatment , which means that governments cannot discriminate on the basis of a firm’s nationality { Other provisions include: z elimination of tariffs by 1999 z national treatment to foreign investment z trade restrictions are “grandfathered” or have “sunset” clauses z some goods remain subject to non-tariff trade
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: restrictions (such as cultural industries in Canada) 4 THE NORTH AMERICAN FREE TRADE AGREEMENT (2) { Under NAFTAs dispute settlement mechanism, the imposition of countervailing duties and antidumping duties must be subject to a review panel made up of experts from all three countries { By and large, NAFTA worked out as expected by its supporters. Industry has restructured in the direction of greater export orientation in all three countries, and trade creation has occurred { All three countries are exporting more to and importing more from each other { But, impacts in terms of wages and job displacement?...
View Full Document

Page1 / 2

lecture 25 - restrictions (such as cultural industries in...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online