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MGCR 382 (143)
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Lecture 12

Lecture 12

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McGill University
Management Core
MGCR 382
John Saba

International Business Lecture 12thFinal ExamTuesday April 12 6 to 9pmIMPORTANTCHANGE OF CONTENT FROM LAST WEEK Exam covers chapters 1 2 3 6 7 9 10 OMIT 8 and 18 Note that only multiple choice questions will be asked on chapter 7 p180198 only in the final exam as we did not cover this chapter in classMajor questions and essay questions address subjects covered after midterm ie part of chapter 6 and all of chapters 9 and 10 There may be short questions not multiplechoice on chapter 1 2 and 3Chapter 10International Cooperation among Nations cont Objective 2General Agreement of Tariffs and Trade GATTcont5Extending the GATT Other associated agreements cont Intellectual propertyTrade Related aspects of Intellectual Property Agreements TRIPSIntellectual property refers to nontangible ideas and knowledge Ex Technological innovationMedial researchSoftware BooksMusicMoviesTo encourage constant innovation and creation governments have decided that authors inventors musicians and scientists responsible for the creation of such intellectual property are entitled to intellectual property rights established by patents registered trademarks and copyrights Protection of intellectual property rights varies from country to countryHarmonizing the rules that govern the trade of these rights and settling disputes is importantTheoryThe Traderelated aspects of Intellectual Property Agreements TRIPS coming from the Uruguay round of trade negotiation substantially strengthened the protection granted to owners of intellectual property rights and developed enforcement and dispute settlement procedures to punish violatorsPracticeThe efforts to improve intellectual property rights protection have largely failed due to lax enforcements by certain countries eg ChinaTraderelated Investments Measures Agreement TRIMS2 trends1Increased investment and trade results in more global production 2Developing countries seek to continue receiving FDI as a tool to promote their economic growth and technology transferThe trims agreement emanating from the Uruguay round is a modest start toward eliminating national regulations on FDI that may distort or restrict trade Some effects of the TRIMS Agreement with a few exceptions Trade balancing rules Countries may not require foreign investors to limit their imports of inputs to an amount equal to their exports of local production Foreign exchange access Countries may not restrict foreign investors access to foreign exchange6enforcement of WTO decisionDispute settlement GATT enforcement mechanism Very weakAfter an arbitration panel determined that a country was in violation of a GATT rules the country should only be sanctioned if it voluntarily accepted it WTO enforcement powers Much strongerWhen a country or group of countries believes another WTO member is in violation of the rules itthey may file a complaint against that country and start the disputesettlement process WTO panel will evaluate the complaint and if decided sanctions imposed SanctionsIf a WTO panel finds a country in violation of the WTO rules the panel will likely ask the offending country to eliminate the trade barrier
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