IR Chapter 8-2 Fall 09 student

IR Chapter 8-2 Fall 09 student - CHAPTER 8.2 International...

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1 CHAPTER 8.2 International Trade PSC 124 Fall 2009 Northrup Gary Huck cartoon
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2 Overview I. Trade regimes II. MNCs and EPZs III. Resistance to free trade as it operates in the current global economic system
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3 I. Trade Regimes: WTO Global multilateral IGO Promotes, monitors and adjudicates international trade Current 153 Members of WTO and 30 Observers
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4 Creation of WTO Post WWII – attempt to create ITO but unsuccessful (US objected) Created GATT – General Agreement on Tariffs and Trade A system of rules re international negotiations on trade – 1947 Several “rounds” 1995 GATT became WTO GATT plus trade in services and intellectual property, expanded scope of trade issues Controversial, but most countries want to belong and benefit
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5 WTO Principles of Reciprocity Most favored nation concept (MFN) Trade restrictions placed on most-favored trading partner have to be applied equally to all WTO members So barriers aren’t eliminated, but are equalized for level playing field Generalized System of Preferences (GSP) Exception to MFN Developed states give trade concessions to developing countries to help economic development process E.G. allowed China to provide subsidies to paper industry
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6 GATT and WTO “Rounds” Rounds of negotiations Attempts to establish rules for trade GATT focused on manufactured goods – tariff reductions globally 1999 Seattle WTO conference was intended to deal with difficult issues – protests brought it to a halt (part of Uruguay Round)
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7 Seattle 1999 Difficult Issues for Negotiations Concerns about job loss Protests about workers in developing countries
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8 Doha Round 2001 round of WTO negotiations Doha, Qatar – avoid protests Goals – lower trade barriers around world Issues: agriculture, services, intellectual property, WTO rules (e.g. dumping), some environmental questions 2007 talks were closed with no success – North/South divide July 2008 talks broke down again over agricultural issues Schedule to start up again this year
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9 *Breakdown of Doha Round
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IR Chapter 8-2 Fall 09 student - CHAPTER 8.2 International...

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