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 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 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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Emerging Trade Regime: 1947- 1973 Emerging Trade Regime: 1947- 1973 The General Agreement on Tariffs and Trade
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Unformatted text preview: (GATT) begins in 1947 GATT initially made up of 23 states & 80% world trade Basis of GATT Basis of GATT Nondiscrimination: Most Favoured Nation (MFN) status Reciprocity Lower trade barriers as quickly as ‘economically and politically possible’ Role & Impact of GATT Role & Impact of GATT Each round furthered trade liberalisation < tariffs from 40% to 4% Argued that > GATT agreements = increased world trade GATT not enforced Raising the Stakes: the WTO Raising the Stakes: the WTO Broadened trade & services to be liberalised Developing states move from protectionist to liberal Establishment of WTO 1995: 1 state = 1 vote, still consensus based Enforcement of trade agreements through the Dispute Settlement Mechanism (DSM) 2001: Doha Development Round or Death of WTO? 2001: Doha Development Round or Death of WTO? Agriculture holding up round; Talks ‘suspended’ mid-2006...
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This note was uploaded on 11/06/2011 for the course POLITICS 1102 taught by Professor Unknown during the Three '09 term at University of Sydney.

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

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