wk 12 trade - (GATT begins in 1947 GATT initially made up...

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World Politics World Politics And international political economy
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What is IPE? What is IPE? Study of states and markets Can be divided into: International Trade (exchange of goods, services & labour across states) International Finance (structure of the int monetary system & capital flows across state borders) Both changing rapidly since the post 1945 period
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1945-1971 Bretton Woods: A New International Economic Order 1945-1971 Bretton Woods: A New International Economic Order Characterised by “Embedded Liberalism” Stable monetary system with a fixed exchange rate & capital controls Facilitate the spread of free trade Role of IMF, World Bank and later the WTO
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International trade and growth International trade and growth Rapid growth of world trade 1947-1973 States with lower trade barriers perform better economically World trade uneven: 80% concentrated in Triad
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