trade liberalization
Download
Skip this Video
Download Presentation
Trade Liberalization

Loading in 2 Seconds...

play fullscreen
1 / 8

Trade Liberalization - PowerPoint PPT Presentation


  • 156 Views
  • Uploaded on

Trade Liberalization. International Approach GATT WTO Regional Approach EU NAFTA. General Agreement on Tariffs and Trade The Agreement MFN Clause No Quotas Settlement of Trade Disputes Sponsorship of Multi-national Tariff Reduction Negotiations. The World Trade Organization

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Trade Liberalization' - demont


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
trade liberalization

Trade Liberalization

International Approach

GATT

WTO

Regional Approach

EU

NAFTA

the international approach
General Agreement on Tariffs and Trade

The Agreement

MFN Clause

No Quotas

Settlement of Trade Disputes

Sponsorship of Multi-national Tariff Reduction Negotiations

The World Trade Organization

Rules and Standards for Trade Policy

Settlement of Trade Disputes

Sponsorship of Multi-national Tariff Reduction Negotiations

The International Approach
avg cuts in tariffs 1934 1993
Avg. Cuts in Tariffs 1934 - 1993
  • Pre-GATT 1934-1947 33.2%
  • First Round 1947 21.1
  • Second Round 1949 1.9
  • Third Round 1950-51 3.0
  • Fourth Round 1955-56 3.5
  • Dillon Round 1961-62 2.4
  • Kennedy Round 1964-67 36.0
  • Tokyo Round 1974-1979 29.6
  • Uruguay Round 1986-1993 33.3
the world trade organization
The World Trade Organization

The WTO was created in 1995 to act as a forum for trade negotiations and serve as an impartial international court to resolve trade disputes.

The WTO has had trouble with both roles:

  • The big boys (U.S. and E.U.) can’t agree.
  • The little guys feel cheated
the regional approach
The Regional Approach

The regional approach to trade liberalization requires some degree of economic integration.

Economic integration is the process of abolishing discrimination among economic units belonging to different states by forming trade blocs.

types of economic blocs
Types of Economic Blocs
  • A Free Trade Area
    • Tariffs among the participating countries are abolished, but each country retains its own tariffs against nonmembers. NAFTA
  • A Customs Union
    • Tariffs among the participating countries are abolished, and tariffs against nonmembers will be equalized.
types of economic blocs1
Types of Economic Blocs
  • A Common Market
    • Tariffs among the participating countries are abolished, a common set of external restrictions is adopted, and restrictions on factor movements are abolished.
  • An Economic Union
    • Combines the suppression of restrictions on commodity and factor movements with some degree of harmonization of national economic policies. The European Union (EU)
types of economic blocs2
Types of Economic Blocs
  • Total Economic Integration
    • Requires not only the unification of monetary, fiscal, social, and countercyclical policies but also the establishment of a supra-national authority whose decisions are binding for the member states. The United States of America
ad