POLI 1P93 Lecture 8: Lecture notes
Document Summary
Created in 1995 after uruguay round of wto. Previously gatt allowed for protection of some industries , provided some sovereignty. Wto expanded to agriculture , textiles , services , intellectual property , invertsment policy. Includes dispute settlement measures ( investors state protection) Wanted expansion of categories covered by gatt. Wanted to overcome its trade de cit of the 1980s. Us would still be largely insulated from wto. Pushed canada to enter fta, to secure access to american markets. Emerged from debate on ito( international trade organization) Us was unwilling to give up its sovereign power to an external authority. Focused on removal of tariffs and carries to trade. Organization had no power to enforce rules. Left injured parties (states) to retaliate against offender. Encouraging cross border movement of good and services. In some ways made corporations the equals of states. Does not recognize the rights of people ( change relationship with business and people)