9 trade and globalization

9 trade and globalization - • communications technology...

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Trade and Globalization
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key terms “economic liberalism” favoring free flow of trade and investment “mercantilism” or “protectionism” protecting domestic industries with subsidies, tariffs, and non-tariff barriers
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comparative advantage specializing and trading benefits all?
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Liberal International Economic Order GATT Bretton Woods institution for the reduction of tariffs WTO replaces GATT in 1995 expanded and given teeth--authorizes retaliation
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Regional Trade Agreements NAFTA EU APEC towards liberalized world trade, or trading blocks?
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The future of international trade increasing protectionism with declining US hegemony?
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Globalization Interconnection with the world
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sources of globalization liberal trade/pro export policy
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Unformatted text preview: • communications technology • TV, computer/internet, phone • transport • air travel, containerization • immigration Immigration • The US--post 1965 • end of nation quotas, more “chain” migration • Europe in the 60s • guest-workers and former colonies • anti-immigrant parties Cultural Homogeneity? Global Village or Global Pillage? • WTO may determine that environmental, health, labor standards are really NTBs • examples of dolphin-safe tuna and turtle-safe shrimp • Tariffs reduced more on poor countries’ small producers than rich countries’ large agricultural producers • But poor countries winning at WTO against US cotton...
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9 trade and globalization - • communications technology...

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