Wealth and Poverty: Governance of Production & Trade

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  • Created by: becky.65
  • Created on: 25-11-19 20:41
What is the General Agreement on Tariffs and Trade?
The interim measure on tariffs and trade introduced in 1947 before the WTO was established. It provided a context, over a number of negotiating rounds, for countries to try and extend bilateral agreements for reducing tariff barriers to trade
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What are the principles of the GATT?
Non-discrimination: all member states are treated equally and reciprocity: when one government lowers its trade barriers, other governments lower theirs too which allows governments to mobilise export interests to support liberalism
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What are the GATT negotiating procedures?
Single undertaking: nothing is agreed until everything is agreed and consensus: if one country votes against the deal, it does not pass
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Why was the GATT so democratic?
There were only 23 members in 1947 and there were no communist members and mostly allies so they were likely to cooperate
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What happened in the 1963-7 GATT round?
The European Community participates as a single unit, the EU and US work together for the agenda and get what they want, developing countries start to be present and work together; agriculture is introduced but there is no progress and "non-tariff"
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What happened in the 1986-94 GATT Round in Uruguay?
Furthest reaching round in the history of the GATT; US and EU firms wanted intellectual property on the agenda but developing countries would not discuss these issues until agriculture was liberated. 123 countries signed all four agreements
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What happened and when was the Battle of Seattle?
It was in 1999 and it was as a result of the reduction in worker and environmental rights that happened after the Uruguay Round. Protests got violent and no progress was made in the next WTO round
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What happened in the Doha Development Round?
The optimism of Uruguay fell apart as many countries felt they had been made a fool of in Uruguay. Brazil and India become more vocal, as did China and developing countries wanted a new deal that took them into more consideration. No major deal since
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What has the WTO era since 1994 been dominated with?
Bilateral or preferential trade agreements
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How many preferential trade agreements have been signed?
800
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What is a preferential trade agreement
A preferential trade agreement, PTA is a trading bloc that gives preferential access to certain products from the participating countries.
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What is the most advanced form of regionalism?
The EU
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What is regionalism?
The development of institutionalised cooperation among states and other actors on the basis of regional continuity as a feature of the international system
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Why did regionalism emerge?
Political independence in the 1960s and 70s make a force for economic independence. Argentina wanted the liberalisation of the oil industry
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When was NAFTA signed
1994
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What happens as a result of the Cold War and the signing of NAFTA?
PTAs boom
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What are the political motivations for PTAs?
Economic means pursued for political ends; they can be negotiated for reward and to pool diplomatic resources and to lock domestic reforms as successors are unable to change reforms and it is an effective way for powerful states to get what they wan
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What is a common market?
The EU; free movement of people and goods between states in the markets and they market has a common external tariff
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What is a customs union?
Free Trade area plus countries adopt a common external tariff
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What is a free trade area?
Countries remove tariff barriers to the free movement of goods and services between them but governments choose how to treat good and services imported from non-partner states
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Other cards in this set

Card 2

Front

What are the principles of the GATT?

Back

Non-discrimination: all member states are treated equally and reciprocity: when one government lowers its trade barriers, other governments lower theirs too which allows governments to mobilise export interests to support liberalism

Card 3

Front

What are the GATT negotiating procedures?

Back

Preview of the front of card 3

Card 4

Front

Why was the GATT so democratic?

Back

Preview of the front of card 4

Card 5

Front

What happened in the 1963-7 GATT round?

Back

Preview of the front of card 5
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