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TXC 174 book (for MT2)

TXC 174 book (for MT2) - Ch. 03:58 FreeTradePROS/CONS Fu

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Ch. 5 Illegal and Unethical Trade Activities 03:58 Free Trade-freedom that communities have to trade equally with on another;  creates wealth but not evenly distributed Free Trade PROS/CONS: Creates prosperity that can benefit rich and poor Allows market demand to determine flow of goods Funds political parties in rich countries; sponsors corrupt individuals in poor  ones Middle class in developed countries is in trouble; 1 st  manufacturing jobs were  exported and now info age jobs are being exported  Let manufacturers to look for lowest wages, loosest environmental regulation,  the more submissive and desperate workers, which fosters the destruction of  livelihoods, cultures, and environments Customs Monitor ex/imports Assess and collect tariffs Report ex/import against quotas Protect country’s borders against illegal entry -MFA multifiber arrangement  -tabulation of quantities of textiles and apparel imported from countries where  developed countries had bilateral agreements was essential to be sure quotas  were not exceeded -many countries casual about monitoring quantity of products exported again  quotas  country of origin-where imports was attributed
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illegal transshipment- when goods are shipped thru a 3 rd  country to make  counterfeit docs that illegally change the country of origin to avoid tariffs or quota  limitations in the real importing country legal transshipment- when goods are routed thru a 3 rd  country as a result of  normal trade or shipping patterns; goods not manipulated in 3 rd  country Rules for being country of origin: Where goods are wholly obtained or when more than one country is involved The country where the last substantial transformation is carried out For US-where the fabric was cut into garment parts -CBPTA (Caribbean basin trade partnership act) and AGOA (Africa growth and  opportunity act) created new transshipping targets
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