GST110-BENSON-SESSION 5

GST110-BENSON-SESSION 5 - THE GLOBAL EXPERIENCE GST110...

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THE GLOBAL EXPERIENCE GST110 – Professor Benson
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Model UN Country Delegations 1:40 PM SECTION United Kingdom United States Belgium (2008) Burkina Faso (2009) Croatia (2009) Indonesia (2008) Italy (2008) Libya (2009) 9:25 AM SECTION China France Russian Federation Costa Rica (2009) Panama (2008) South Africa (2008) Viet Nam (2009)
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Model UN Country Delegations (MWF 9:25 am Section) CHINA FRANCE RUSSIAN FEDERATION COSTA RICA Jasmine Spencer Matt Taylor Benjamin Lunka Laura Wylie Lance Camp Wiley Walter Jackson Moore Samuel Crawford Kyle Weiman Mollie Lair Elliot Campbell Matthew Reidy Jody Hackett Jillian Soja Christopher Spalding PANAMA SOUTH AFRICA VIETNAM Lindsay Reagan Samantha Merckens Brian Bodjiak Austin Keech Megan McGowan Lauren Spindler Ryan Hulme Jobeth Stoddard Michael Nowak Sarah Schermerhorn
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Model UN Country Delegations (MWF 1:40 pm Section) United Kingdom United States Belgium Burkina Faso Elizabeth West Ted Slusher Sarah Baker Jordan McFarland Bill Gore Meredith Reedy Lauren Bradshaw Clint Irwin Sean Page Gray Fain John Minshall Christine Tomkins Croatia Indonesia Italy Libyan Arab Jamahiriya Christy Schmidt Alison Stoehr Xavier Ortenzio Julie Taylor Michael Tucker Leah Hoyland Lauren Ross Terrell Wilson Alanna Winsper Alexandra Riebel Billy O’Riordan James Bruce Christa Spongeman
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International Organizations Various international trade organizations and agreements exist to help facilitate multinational transactions in goods, services and investments World Trade Organization (GATT) Regional and Bilateral Free Trade Agreements (FTAs) Bilateral Investment Treaties (BITs) World Bank International Monetary Fund
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Central Goals of International Trade Organizations Reduce trade barriers among countries to facilitate sourcing and supply chain management Establish common rules for a fair and level playing field Reduce risks inherent in international trading Create systems for resolving trade disputes
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Key Benefits of Free Trade Benefits for government and industry: Leads to Substantial Economic Growth and increased GDP Encourages concentration of effort in areas where natural advantages exist Increases variety of goods available for consumption Stimulates competition Encourages innovation, improved productivity, quality, delivery, etc. Enables scale of production to increase
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Key Benefits of Free Trade Benefits for individual firms: Helps keep labor and capital fully utilised Enables additional growth and expansion to supply export markets Helps reduce operating costs Helps achieve economies of scale Permits importation of raw materials and inputs at lower prices Enables wider distribution of sales by opening foreign markets to US products and services
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Increases in Global Trade Correspond to Increases in GDP
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This note was uploaded on 04/09/2008 for the course GST 110 taught by Professor Benson during the Spring '08 term at Elon.

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GST110-BENSON-SESSION 5 - THE GLOBAL EXPERIENCE GST110...

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