IB 200 1.5 - IB 200 WTO General Agreement at the end of...

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IB 200 - WTO General Agreement - at the end of WWII allies wanted to create a WTO but they did not, instead they created the GATT - idea is peace and prosperity Four Pillars - transparency – general agreement and everyone had the same trade terms - non-discrimination o Most Favored Nation rate became the Normal Trade Relations rates - liberalization - self-enforcement o organization would hear cases but there was no forum to hear cases GATT Negotiating Rounds - overtime more nations joined, 1947: 23 member nations, 1986-94: 117 member nations - At the end of the Uruguay round they freed up some limitations and created the WTO From GATT to WTO - GATT has not gone away - Positive dispute settlement was becoming an issue because countries were just doing what they wanted and there was no one to hold them accountable. - Countries with certain industries wanted special accommodations so they could compete but over time. They didn’t want unemployment, etc. People said this was just new countries picking and choosing what they want
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This note was uploaded on 12/11/2011 for the course BUS 200 taught by Professor Tuli during the Fall '10 term at University of Wisconsin.

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IB 200 1.5 - IB 200 WTO General Agreement at the end of...

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