GEOG 216 Lecture Notes - Lecture 23: World Trade Organization, International Monetary Fund, United Nations Conference On Trade And Development
23 Nov 2017
School
Department
Course
Professor
Document Summary
Geography of the world economy november 25th. Trade agreements gatt, wto, nafta, ceta, tpp. Up until wwii most trade agreements were bilateral b/w countries. Each country would negotiate its own terms would negotiate with another country one on one. There were high levels of trade and output in early 20th century. Then the 30s hit, depression, nation states responded with protectionist policies that worsened the slowdown. The best example smoot-hawley tarrif act in us: tariffs raised on over. This set off a trade war b/w countries in sense of increasing tariffs. In 1944, eventual victors of wwii, us and uk, they met in bretton woods to reshape post war structure of world trade and intl fincance. This moved the global economy out of great depression into post war era. Needed rules to provide stability for the expansion of the global economy. Bw sets institutional basis of postwar global era.
