Chp 1 slides 11 - Chapter 1 GLOBALIZATION AND INTERNATIONAL...

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Unformatted text preview: Chapter 1 GLOBALIZATION AND INTERNATIONAL LINKAGES 1-2 Why International? v 40% of jobs in Orlando are devoted to international trade v Florida ranks 7th in the US and 16th in the world for international trade Which region of the world does Central Florida do the most trade with? Globalization The process of social, economic, cultural and technological integrations among countries around the world NOT Americanizing them 1-3 1-4 Global and Regional Integration North American Free Trade Agreement (NAFTA) US, Canada, Mexico u A free trade agreement between the U.S., Canada, and Mexico which has in essence removed all barriers to trade u Elimination of tariffs as well as import and export quotas u Opening of government procurement markets to companies in partner countries u Increased opportunity to make investments in partner countries u Increased ease of travel between partner countries u Removed all barriers to trade between countries u Created a huge North American market u Agreement will expand to include Latin American countries, Chile, Argentina, and Brazil 1-5 General Agreement on Tariffs and Trade (GATT) International organization created in 1947 Reduces or completely eliminates tariffs to increase free trade Operating principle Normal trade relations or Most favored nation status (MFN) Lacks the power to force nations to resolve trade disputes Last meeting- Uruguay round- GATT revamped 1-6 World Trade Organization (WTO) u Replaced GATT u Has the power (that GATT didnt) to resolve trade disputes u Settlement mechanism is faster, more effective and binding u Controls 90% of worlds trade u Headquarters in Geneva, Switzerland 1-7 Who Invests in the United States?...
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This note was uploaded on 10/18/2011 for the course MAN 4600 taught by Professor Boettcher,l during the Spring '08 term at University of Central Florida.

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Chp 1 slides 11 - Chapter 1 GLOBALIZATION AND INTERNATIONAL...

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