LAWS 3604 Lecture Notes - Lecture 5: General Agreement On Tariffs And Trade, Kennedy Round, Hegemony
22 Nov 2017
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Document Summary
Some states were in the process of decolonizing, so they had the ability to take their time and rebuild before joining trade agreements. 3 average tariff was reduced from over 40% in 1947, to approximately 3% in 2000. Gatt law to a judicial one: automaticity of rulings negative or reverse consensus, opportunity to appeal, disputes about the interpretations of norms and rules as well as alleged non-compliance with agreed rules can seriously hamper cooperation. The dispute settlement understanding (dsu) with a panel procedure at its core, represents an agreement to adjudicate cases of dispute through a judicilaized, court like dispute-settlement procedure: the dsu greatly advanced the judicial function of the. Wto over that of the gatt (winham reading): 2 main categories of a successful dispute resolution, the parties implement the wto rulings, the parties have settled their dispute between themselves or without wto adjudication. Nations adhering to the general agreement were contracting parties and not members.
